Cover for sustainable marine activities and ecosystems, from marine energy to reef restoration and aquaculture.
Blue economy insurance covers sustainable economic activities tied to oceans and marine ecosystems: marine renewable energy, aquaculture, sustainable fishing, decarbonised shipping, but also the protection and restoration of coastal ecosystems that provide risk-prevention services. It sits at the intersection of traditional marine insurance, sustainable underwriting and cover for nature-based solutions. For the insurer, the blue economy opens new markets while posing modelling challenges: marine assets are exposed to specific perils, storms, acidification, sea level rise, and their ecosystem value is hard to quantify. Pioneering schemes covering the restoration of reefs or mangroves after disaster illustrate the convergence between risk transfer and preservation of marine natural capital, whose degradation also increases the vulnerability of insured coastlines.
A parametric cover funding mangrove restoration after a cyclone protects both an ecosystem and the natural barrier it offers to insured coastal populations.
blue economy insurance, économie bleue, assurance océan