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Swiss Re A.G. is preparing a policy to insure a stretch of the Mesoamerican Reef, the Mayan Riviera, off the Mexican coast, Bloomberg reported. The actual policyholders will be the beachfront hotels protected by the reef. Swiss Re said that its plan will give hotel owners quick payouts after a storm, which they can use to repair the beaches and any damage to the reef itself.
1. Turkish airlines cancel flights to Iran and Iraq amid war concerns
3. Zurich Insurance to stop underwriting new oil and gas projects
4. Bermudan, European reinsurers to suffer major hit from bridge collapse
5. Tycoon gets death sentence for multi-billion-dollar fraud
6. Inflation drives 10% increase in sum insured for windstorms