The increasing occurrence of sargassum events on Caribbean beaches and throughout the Gulf of Mexico comes with significant financial impacts on the tourism, hospitality, recreation, and transport industries, as well as the public sector.
Without traditional coverage available, stakeholders absorb lost revenue and expenses related to algae removal, closure of sea activities, booking cancellations, and more.
Descartes’ parametric insurance solutions offer a new form of protection against sargassum events.
Customized precisely to the client’s exposure needs, we cover revenue loss due to sargassum bloom with a straight-forward, satellite based solution.
We collaborate with brokers to protect clients ranging from hotels to restaurants, fisheries, tourism activity providers, airports, and more, making them more resilient as the industry navigates these challenging times.