Financial Mechanisms
Innovative Risk Financing
Parametric insurance product in Colombia that pays out when a hurricane hits a covered reef site.
Mangrove Deforestation
Coral Reefs Restoration
MAR Fund and WTW are working with Fondo Acción and other partners to scale a parametric insurance product that pays out when a hurricane hits a covered reef site. The pay-out enables organised reef response brigades to immediately kickstart coral recovery efforts, transforming post-disaster response for the benefit of coastal communities and the reefs they depend upon.
Region Latin America and the Caribbean
Country Colombia
GFCR Programme Fi Wi Riif (Our Reef)
GFCR Convening Agent Fondo Acción
Priority Coral Reef Sites San Andres and Providencia
Sector Financial Mechanisms
Stage Operational
Key Contact Magda Manuela Masquita Mc Keller
