Parametric Insurance Protects Surf Ecosystems as Global Surfing Economy Booms

Surfing’s global economic impact is growing, and some countries, like El Salvador, are investing in the protection of their natural resources, particularly their surf spots. A new parametric insurance model, introduced by Save The Waves in partnership with ORRAA and backed by the Government of Canada, aims to safeguard these ecosystems by providing payouts before disasters strike. This insurance model is triggered by specific climate conditions, such as high winds or heavy rainfall, ensuring that communities can quickly access the necessary resources to minimize damage.
The first region to implement this innovative model is the Oriente Salvaje World Surfing Reserve in El Salvador, which includes famous surf spots like Punta Mango. The plan aims to protect 1,000 surf ecosystems by 2030 and is monitoring 5,000 surf spots worldwide, 24 percent of which are located in key biodiversity areas. If successful, this approach could revolutionize how communities protect and manage their natural coastal resources, blending environmental conservation with economic development.