As a result of climate change fears and potential damage to the mile long coral reef off the coast of Puerto Morelos , Mexico , local businesses are looking into a new kind of insurance - a policy for nature . The Reef & Beach Resilience and Insurance Funds , made up of tourism businesses along the stretch of the 700-mile Mesoamerican coastline pays premiums to the Re . “In the attempt to create a market you have to start with the steps that people are most comfortable with and they are already familiar with,” says Kaplan. It will quickly sort out insurance that can be used to protect the reef in case of a large storm .
As a result of climate change fears and potential damage to the mile long coral reef off the coast of Puerto Morelos , Mexico , local businesses are looking into a new kind of insurance - a policy for nature . The Reef & Beach Resilience and Insurance Funds , made up of tourism businesses along the stretch of the 700-mile Mesoamerican coastline pays premiums to the Re . It will quickly sort out insurance that can be used to protect the reef in case of a large storm .