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Reuters
Reuters
Business
By Clare Baldwin

Analysis-First U.S. coral insurance marks the rise of the reef brigades

FILE PHOTO: Fishes swim among coral reefs in the waters of Alor, East Nusa Tenggara province, Indonesia, October 6, 2022. REUTERS/Angie Teo/File Photo

Conservation group The Nature Conservancy's vision for the future of coral protection involves speed boats, and a global army of snorkellers and divers deployed when tropical storms and hurricanes damage reefs.

On Monday, the global 'Reef Brigades' plan came closer to reality when it bought an insurance policy on behalf of the state of Hawaii, the first U.S. coral insurance contract, which will provide funds for repair work, building on similar policies taken out in the Caribbean.

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