"HONG KONG - Conservation group The Nature Conservancy's vision for the future of coral protection involves speed boats, and a global army of snorkellers and divers deployed when tropical storms and hurricanes damage reefs.
On Monday, the global 'Reef Brigades' plan came closer to reality when it bought an insurance policy on behalf of the state of Hawaii, the first U.S. coral insurance contract, which will provide funds for repair work, building on similar policies taken out in the Caribbean.
To date, conservation has really relied on philanthropy and government grants," Eric Roberts, a senior risk and resilience program manager at The Nature Conservancy (TNC), said. "By using insurance, we're also tapping into the private sector for this work.""
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