The Mesoamerican Reef Fund (MAR Fund), together with WTW, the InsuResilience Solutions Fund (ISF), and AXA Climate, has announced the sixth annual placement of the MAR Insurance Programme. This pioneering regional initiative uses parametric insurance to provide rapid financing for emergency reef response efforts following hurricanes across the Mesoamerican Reef. With the addition of two new protected areas in Quintana Roo, Mexico, the programme continues to expand its reach, strengthening climate resilience across one of the world’s most valuable marine ecosystems. AXA Climate serves as the designer of the parametric insurance solution.
Expanding Parametric Coverage Across the Mesoamerican Reef
Now entering its sixth year, the programme continues to expand its reach and impact. What began in 2021 with four Protected Areas (PAs) now provides coverage for 12 PAs across the region. This year, two additional PAs in Quintana Roo, Mexico —Arrecife de Puerto Morelos National Park and Arrecifes de Cozumel National Park— have been incorporated into the portfolio. Coverage under the 2026–2027 policy period runs from June 1, 2026, through May 31, 2027.
The MAR Insurance Programme is a cornerstone of MAR Fund’s Reef Rescue Initiative. It brings together parametric insurance, an emergency fund, and a coordinated response framework designed to protect one of the world’s most important marine ecosystems, the Mesoamerican Reef region. Since its inception, the programme has had the support of regional authorities. MAR Fund collaborates with them to advance climate adaptation across the four countries.
“As climate change continues to intensify across the wider Caribbean, having rapid access to emergency funding is essential to support timely response actions to accelerate reef recovery. We are proud to see the programme continue to grow, bringing new partners and additional reef sites into a mechanism that helps safeguard both this critical ecosystem and the coastal communities whose well-being depends on it”. — María José González, Executive Director of MAR Fund.
Protecting a Critical Ecosystem
The MAR spans more than 1,000 kilometers from Cabo Catoche in northern Quintana Roo, Mexico, to the Bay Islands and the northern coast of Honduras. It generates over US$4.5 billion annually in ecosystem services such as fisheries, tourism, and coastal protection, supporting the livelihoods of millions of people along its coastline.
Since its launch in 2021, the programme has been supported by the InsuResilience Solutions Fund (ISF). This core funding has been paired with additional contributions from MAR Fund’s Reef Rescue Initiative and those of strategic partners, including the Ocean Risk and Resilience Action Alliance (ORRAA) and the Adaptation Fund Climate Innovation Accelerator (AFCIA/UNDP). The programme’s regional expansion relied on targeted, site-specific collaboration with the Wildlife Conservation Society (WCS), which in 2024 and 2025 helped establish insurance cover and emergency response capacities for two areas in southern Belize.
“The MAR Insurance Programme is paving the way for nature-based solutions against climate risks and exceeds initial expectations by continuously growing and expanding. The ISF is proud to continue supporting this innovative insurance programme protecting a unique natural treasure and providing livelihoods for vulnerable people in the MAR region”. — Dr Annette Detken, head of the InsuResilience Solutions Fund.
Strengthening Resilience in Mexico
For the current policy year, the Mexican Fund for the Conservation of Nature (FMCN), through the ACCIÓN Project funded by the Green Climate Fund, has partnered in these efforts by financing the insurance premium for Puerto Morelos and Cozumel. The incorporation of these sites was also made possible thanks to the Secretariat of Ecology and Environment of Quintana Roo (SEMA) as a key driver in the process.
The National Commission of Natural Protected Areas (CONANP) has also been instrumental in driving the establishment and strengthening of local response capacities and supporting effective preparedness and response efforts in those protected areas. Together, these partnerships are helping to enhance hurricane preparedness and reinforce the resilience of the MAR region.
“Reef conservation is essential to sustaining marine biodiversity and strengthening the resilience of coastal areas, on which local economies and protection against extreme weather events depend. With the expansion of this insurance to Puerto Morelos and Cozumel, funding from the Green Climate Fund through FMCN enhances the capacity to mobilize resources immediately after a hurricane, enabling reef restoration when it is needed most”. — Renée González, Chief Executive Officer of FMCN.
“This is the path set by Governor Mara Lezama: to grow sustainably, protect our natural wealth, and understand development as a shared responsibility among government, community, science, the private sector, and international cooperation. We will continue working to consolidate this mechanism, strengthen local capacities, and ensure a rapid, technical, and organized response to the impacts of climate change. Protecting the reefs means protecting marine life, the coast, tourism, fishing, employment, and the future of thousands of families in Quintana Roo”. — Óscar Rébora, Secretary of Ecology and Environment of the State of Quintana Roo.
How Parametric Insurance Protects a Critical Ecosystem
The insurance solution has been structured and placed by Willis’ Alternative Risk Transfer team, with AXA Climate serving as the designer of the parametric insurance product for the current policy year. Together, the partners are helping pioneer a model that links nature conservation, climate adaptation, and innovative finance to ensure that coral reef ecosystems can recover more quickly after extreme weather events.
“As climate-related risks continue to increase, innovative insurance solutions are playing a vital role in strengthening resilience. By providing rapid access to funding following severe weather events, this program helps ensure that reef restoration efforts can begin quickly, protecting natural ecosystems, local economies and the communities that depend on them. This partnership demonstrates how insurance can be a powerful tool in supporting climate adaptation and sustainable development”. — Jody Yee, Head of Alternative Risk Transfer for the Americas.
“Coral reefs are among the world’s most valuable ecosystems, yet increasingly vulnerable to climate-related disasters. At AXA Climate, we believe parametric insurance can help ecosystems and the communities that depend on them recover faster by providing immediate funding after extreme events. We are proud to support another year of this programme, which has become a global benchmark for how innovative solutions can protect biodiversity, strengthen resilience, and help close the protection gap for natural ecosystems”. — Antoine Denoix, Chief Executive Officer of AXA Climate.
