Published On: Wed, Jul 25th, 2018

Foreign companies plan to secure the reefs of Quintana Roo

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“Two foreign companies are interested in insure the reefs of Quintana Roo, one from Switzerland and one from the United States, something innovative in the international context, in order to protect the ecosystem from the threat of a category four or five hurricane. Once the contract with the fiduciary is ready, the trust’s technical committee will be set up to analyze the conditions of the agreement that will be presented to the insurance companies”, said Alfredo Arellano Guillermo, head of the Ministry of Ecology and Environment (Sema).

“We want to install the trust’s technical committee as soon as possible. In the course of the next three weeks the contract with the fiduciary will be ready, and once it’s ready the committee will be installed” Arellano added.

One of the points that will be analyzed by the committee is the relevance of contracting insurance, and if this is authorized, determine the scope, and the cost of the insurance policy.

(Photo: SIPSE)

“This is an innovative topic, because there have been cases of insurance for beaches but never for a reef, therefore, this has caused a lot of interest and good expectations in the international context” Arellano continued.

“We’re talking about a parametric insurance, that will cover any damages suffered by the onslaught of a hurricane and the resources granted by the insurance company will be used for its restoration. The intention is to cover all the linear meters of the reef that are in front of the state of Quintana Roo, however it will depend on which municipalities want to ensure the part that corresponds to them”, explained the head of the Ministry of Ecology and Environment.

“We are going to see which municipalities are interested in joining this initiative, and we would be looking for the largest extent of the reef to be included in the insurance policy, in the event of a hurricane category four or five that are the most devastating” he stated.

“The technical committee is conformed by public dependencies, the private sector and will have advisory councils formed by academic groups, governmental organizations and representatives of the tourism industry. The resources for the contracting of the insurance would come from a trust headed by the state government”, concluded Arellano.

Source: SIPSE

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