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Swiss Re insures coral reef

Swiss Re insures coral reef

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.

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