WTW partners with Mesoamerican Reef Fund

Willis Towers Watson has announced a partnership with the Mesoamerican Reef Fund to develop, co-fund and implement insurance solutions that help protect and restore the 1,000km reef system along the Caribbean coast. The Mesoamerican Reef Insurance Programme aims to use parametric insurance to cover the hurricane risk to the reef and the communities that depend on it for their livelihoods.

John Haley, chief executive officer of Willis Towers Watson, said: “In 2018, we launched the Global Ecosystem Resilience Facility at the World Ocean Summit in Cancun. We are delighted to be back in central America, partnering with the MAR Fund and supported by the InsuResilience Solutions Fund, to build resilience of the Mesoamerican reef and its communities.

“Marine ecosystems may be ‘free’ public goods, but their active maintenance is essential in sustaining their health and value. This programme helps us learn how insurance can provide a unique shared governance framework to manage reefs and other vulnerable natural ecosystems.”

María José González, executive director of MAR Fund said: “This collaboration is a great opportunity for the MAR region. We see the insurance model as a risk management tool that will provide immediate funds for reef restoration, thereby contributing to strengthening coastal resilience, and to the recovery of the MAR and the environmental services it provides.

“MAR Fund will be the policyholder and will manage the pay-outs. We will work closely with national governments and other partners and stakeholders to build the needed capacities for emergency response and preparedness.”


Image courtesy Simon Dowling, Marine Conservationist at www.ecokohtao.com

    Share Story:

YOU MIGHT ALSO LIKE


The Future of Risk & Resilience with AI & Data
CLDigital's Co-Founder, Tejas Katwala, joins CIR Magazine to discuss how CLDigital is transforming enterprise risk and resilience. By integrating business processes, AI and data-centric strategies, organisations can move beyond compliance to proactive risk management – simplifying operations, strengthening resilience, and driving business performance. Listen now to explore the future of intelligent risk management.

Investec is disrupting premium finance – Podcast
Investec made waves in entering the premium finance market, where listening and evolving in response to brokers made a real difference.

Advertisement