In this episode we talk with Simon Young, a volcanologist who went diving in the aftermath of a volcano and hurricane, and realized the need for quick remediation of damage following a natural disaster. He now works for WTW, a risk advisory company, and is helping to pilot a new type of coverage, parametric insurance. Parametric insurance provides immediate compensation for "non-traditional asset classes" - among those coral reefs - after a devastating storm. WTW now manages insurance policies for the countries that make up the Mesoamerican Reef (MAR), and they are planning expansion to the Caribbean and eventually the rest of the world. With more storms never far away, this insurance provides an innovative way to ensure that damage can be mitigated quickly, allowing both the reefs and the people who depend on them to recover as quickly as possible. Don't miss it!
Links to organizations mentioned in the podcast below.
Ocean Risk and Resilience Action Alliance: https://www.oceanriskalliance.org/
Reef Resilience Network: https://reefresilience.org/
The MAR Fund: https://marfund.org/en/
The Nature Conservancy (TNC): https://www.nature.org/en-us/
The Caribbean Biodiversity Fund: https://www.caribbeanbiodiversityfund.org/
Turneffe Atoll Marine Reserve: http://www.turneffeatollmarinereserve.org/maps
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