20 July 2017
By Fiona Harvey
...Under the Cancún insurance policy, (click here) pioneered by the insurance company Swiss Re and the Nature Conservancy, a US environmental charity, local organisations dependent on tourism will pay in to a collective pot likely to amount to between $1m (£770,000) and $7.5m for the insurance premiums on the policy, and a 40 mile (60km) stretch of reef and connected beach will be monitored. If any destructive storms damage the reef system, the insurer will pay out sums likely to be $25m to $70m in any given year.
Any payouts will be used for restoration of the reef, for instance by building artificial structures that can increase the height of the reef in case of storm damage.
Corals from the reef can be removed and rested for a period of weeks or months, to help them regrow, at which point they can be safely reattached to their native habitat to regenerate the growth of the reef system.
The advantages of such restoration go far beyond the hotels that border the seafront. As well as providing a natural brake against destructive storms, coral reefs provide nurseries for fish when they are growing, and form a vital part of the marine ecosystem. Their health or decline is seen as one of the key indicators of the state of the natural environment globally....