The Nature Conservancy’s (TNC) Hawaiʻi parametric coral reef insurance policy will pay for damage assessment and reef repairs for the first time since it purchased the United States’ first such policy four years ago, following recent impacts from Hurricane Lala which brought dangerous flooding, strong winds and major power outages across the state.
In 2022, WTW, alongside TNC, launched the parametric coral reef insurance concept, with global reinsurer Munich Re underwriting the risk for the Hawaiian coral reef parametric insurance arrangement.
In 2024, the policy was renewed, offering expanded coverage and greater potential payouts, thereby enhancing the funding allocated for reef recovery and the communities reliant on these ecosystems. Munich Re was again chosen as the coverage provider from a pool of seven competitive bids.
The parametric policy was renewed again in 2025, with Munich Re continuing to play a key role in the programme.
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