Nature Conservancy purchases an insurance policy to cover Hawaii’s coral reefs

Insurance policy - Coral Reef with fish

The nonprofit is the first organization to obtain coverage for the coral’s repair following coastal storms. Coastal storms in Hawaii have been damaging already threatened coral reefs and the Nature Conservancy nonprofit has now purchased an insurance policy to repair that damage. State officials cannot afford to implement the repairs that the coverage will pay the nonprofit to do. This first-of-its-kind insurance policy approach to climate change is an effort to obtain the necessary funding to help the coral reefs in Hawaii to keep up with the worsening storms. This…

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Insurance industry seeks climate change support

Climate Change homeowners insurance industry

After a year of record droughts followed by a year of record flooding, cooperation could be key. In the aftermath of the flooding that was experienced last year throughout many regions of the United States and Canada, the insurance industry found itself facing what could only be defined as a public relations nightmare. Residents of these hard hit zones have faced huge rebuilding costs and banks found themselves in binds. Banks in the areas that were struck by the most flooding, last year, found themselves holding mortgages for properties that…

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