Quintana Roo Expands Parametric Insurance to Protect Coral Reefs in Puerto Morelos and Cozumel

Chetumal, Quintana Roo — The government of Quintana Roo has expanded its parametric insurance program to cover coral reefs off Puerto Morelos and Cozumel, ensuring rapid funding for restoration after hurricanes and tropical storms.

The initiative, led by the state’s Secretariat of Ecology and Environment (SEMA) in coordination with the Mexican Fund for the Conservation of Nature (FMCN) and the Mesoamerican Reef Fund (MAR Fund), now protects four key reef sites. Banco Chinchorro and Xcalak were already covered under the program.

The insurance policy triggers immediate payouts when a tropical storm or hurricane of Category 1 to 5 strikes, allowing authorities to quickly deploy resources for cleanup, restoration, and recovery of damaged coral ecosystems.

“This is the path set by Governor Mara Lezama Espinosa: to grow with order, protect our natural wealth, and understand development as a shared responsibility between government, community, science, the private sector, and international cooperation,” said SEMA Secretary Óscar Rébora Aguilera at the announcement. “Caring for reefs means caring for marine life, the coast, tourism, fishing, jobs, and the future of thousands of families in Quintana Roo.”

Under the agreement, FMCN will pay the full premium for both new sites directly to MAR Fund for the 2026 policy year. Coverage remains in effect until September 24, 2027.

SEMA and FMCN also agreed to develop technical assessments and a roadmap for allocating annual state funds to ensure the program’s long-term sustainability.

Parametric insurance is an innovative financial tool that provides rapid liquidity after a disaster, based on predefined triggers such as storm intensity, rather than requiring a lengthy damage assessment. For Quintana Roo, this means reefs can receive critical attention within the first days after a hurricane, preserving biodiversity and the tourism services that depend on healthy marine ecosystems.