All the headlines from our Parametric Topic Page, ordered by recency.
Feb 4 2020 // Lloyd’s of London is expecting big things for 2020 as it rolls out the key initiatives for its massive modernization project designed make it easier to do business with Lloyd’s and, ultimately, reduce the cost...
Jan 27 2020 // Although parametric solutions have been generally available since the late 1990s, they have more recently found their way into corporate insurance. Parametric insurance solutions offer a means to guarantee direct payout...
Jan 9 2020 // Although parametric solutions have been generally available since the late 1990s, they have more recently found their way into corporate insurance. Parametric insurance solutions offer a means to guarantee direct payout...
Dec 11 2019 // Hannover Re and a parametrics company along with several German economic development agencies have created a natural disaster fund targeting investments in risk-transfer instruments relating to natural catastrophes and...
Nov 26 2019 // Blockchain technology and parametric insurance should be included in the Federal Emergency Management Agency’s toolbox as it strives to close the nation’s flood insurance coverage gap, according to a draft...
Nov 14 2019 // Nick Pacifico has been working at his family’s Cadillac dealership in Denver since 2003. He’s never seen insurance costs this bad. “Getting coverage is nearly impossible,” said Pacifico, vice...
Nov 7 2019 // AmWINS Group, Inc., a global distributor of specialty insurance products and services, has named Alex Kaplan executive vice president for Alternative Risk.In his new role, Kaplan will lead a new strategy around the...
Oct 21 2019 // Parametric earthquake coverage and terrorism coverage are among the potential items on the 2019 Export List hearing being held next month by the California Department of Insurance.Adding a risk or coverage to the export...
Oct 16 2019 // Getting items on California’s surplus lines export list is no easy task.Just ask Ben McKay, executive director of the Surplus Line Association of California. McKay can recall only a few coverages that have been added...
Oct 11 2019 // Parametric earthquake coverage and terrorism coverage are among the potential items on the 2019 Export List hearing being held next month by the California Department of Insurance.Adding a risk or coverage to the export...
Sep 27 2019 // CCRIF has made two payouts to the government of The Bahamas totaling US$12.8 million in the aftermath of Hurricane Dorian, which caused widespread destruction in the northern part of the archipelago.The Bahamas has three...
Sep 24 2019 // It’s time to rethink the limits of parametric insurance.The concept behind parametric insurance is not new. Insurance payouts automatically triggered by an event exceeding an index level have existed for decades....
Sep 5 2019 // Some of the first financial relief the Bahamas receives in the aftermath of Hurricane Dorian may be a rapid insurance payout from a novel program just 12 years old.CCRIF, once short for the Caribbean Catastrophe Risk...
Aug 2 2019 // Hundreds of French farmers who signed up for specialist policies aimed at insuring against freak weather are getting swift payouts which could help them recover from heatwaves and prolonged droughts that hit parts of the...
Jun 28 2019 // JBA Risk Management and FloodFlash have formed a partnership to provide event-based flood insurance, which uses parametric triggers for property exposures.The product is an industry first and will provide bespoke insurance...
May 23 2019 // Global law firm Clyde & Co has launched an off-the-shelf connected parametric insurance contract for use by insurers through its smart contract consultancy, Clyde Code.“A connected contract is a digital agreement...
May 9 2019 // Assured Risk Cover (ARC) has hired Tom Freeland as Market president and investor. Freeland will be responsible for growing the revenue streams of its Florida-based StormPeace residential and commercial parametric insurance...
Apr 9 2019 // Some of the world’s largest insurers are eagerly pitching cities, states and even school districts on policies designed to pay out quickly with few questions in the event of extreme weather. The catch: Even a...
Mar 21 2019 // Mike McGavick’s turnaround experiences have led him to think carefully about changes that are needed for the insurance industry.“First, cost has got to come down. It’s absurd that approximately 60 cents...
Jan 10 2019 // Cayman Islands-based catastrophe facility CCRIF SPC has increased its membership with the addition of Panama, which purchased parametric insurance cover for excess rainfall.CCRIF’s membership now stands at 21...