Progress report for
Coastal Risk Resilience and Insurance
Achievement at a glance
TNC has implemented projects on innovative finance mechanisms and community led disaster risk reduction. TNC is working with state governments, municipalities, insurance companies, and the tourism industry in Mexico, US (Florida & Hawai’i) and the Caribbean region to assess the feasibility of developing reef insurance. We anticipate that this funding mechanism will allow for coastal habitat protection and repair, and increased support for the policy and regulatory incentives needed to encourage further progress. TNC is also implementing projects in Indonesia and Micronesia to empower communities to understand climate risks and integrate ecosystem-base adaptation approaches into disaster risk planning.Beneficiaries
In Mexico, the primary beneficiaries are hotel owners who financially contribute to a fee that will pay for the insurance premium. Should a hurricane strike, they are able to benefit from reefs being repaired to rebuild resilience to storm surge and erosion and through that support many people who work in the hotel and tourism industry along the coast. In Indonesia and Micronesia, the primarily beneficiaries are vulnerable coastal communities who will be able to identify climate risks and nature-based solutions to minimize coastal risks and integrate nature-based solutions as adaptation strategies into local level planning.