(Reuters) - Conservation group The Nature Conservancy has purchased a new, expanded insurance policy that could see up to $2 million paid out to help protect coral reefs around the main islands of Hawaii in the event of storm damage.
The policy is an example of so-called parametric insurance, which pays out when certain predetermined triggers are reached and is increasingly seen as a quicker way for money to be disbursed to damaged areas in the event of natural disasters.
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