Global Parametrics, Hannover Re renew coral reef cover

U.K.-based parametric disaster risk transfer company Global Parametrics has partnered with German reinsurer Hannover Re SE to renew the parametric insurance cover for Yucatan coral reef in Mexico, Artemis reports. The cover for Mexican Reef Protection Program would support the restoration of a section of the Mesoamerican reef in the state of Quintana Roo on the Yucatan peninsula following a cyclone.

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