Insuring Natural Infrastructure Against Climate Impacts: 2024 Hawai‘i Reef Insurance Policy Benefits from Upgrades

Summary

This publication describes The Nature Conservancy’s 2024 Hawai‘i Reef Insurance Policy and its role in protecting coral reefs as critical natural infrastructure. The report explains how parametric insurance provides rapid funding following qualifying storms, supporting immediate reef damage assessments, coral reattachment, debris removal, and restoration activities. It highlights the ecological, economic, and cultural importance of Hawai‘i’s reefs, which contribute to flood protection, tourism, fisheries, and coastal resilience. The publication outlines key policy upgrades introduced in 2024, including expanded geographic coverage across the eight Main Hawaiian Islands, simplified coverage zones, and increased minimum payout levels designed to improve post storm response capacity. It also explains how payouts are triggered by storm intensity and location, enabling faster access to restoration funding. In addition, the report describes collaborative reef response planning efforts involving government agencies, scientists, and local organizations. The Hawai‘i reef insurance model demonstrates how innovative financial tools can help communities address climate risks, accelerate ecosystem recovery, and strengthen resilience to increasingly severe weather events.