Latest Parametric Headlines
All the headlines from our Parametric Topic Page, ordered by recency.
Vermont Captive Insurance Law Changes Include Green Light on Parametric Contracts
Jun 3 2022 // Governor Phil Scott recently signed legislation (H.515) into law modernizing Vermont’s captive insurance statutes, including giving captive insurance companies authority to enter into parametric risk transfer...
Howden, Munich Re and Skyline Develop Parametric Cover for Jamaica Farmers
May 2 2022 // Howden, the London-based insurance broker, has worked with Munich Re and Skyline Partners to develop a product that protects the Jamaican Co-operative Credit Union League (JCCUL) against non-repayment of micro-loans from...
Insurtech Descartes Partners With Modeling Firm Reask to Expand Parametric Cover
Feb 28 2022 // Descartes Underwriting, the Paris-based parametric insurtech, has formed a partnership with Reask, the tropical-cyclone modeling firm. The partnership aims to expand the availability and advancement of parametric cyclone...
People Moves: Groenheide to New Paradigm in Florida
Feb 22 2022 // Matt Groenheide, previously with GuideOne Insurance, HDI Global and Zurich, has joined New Paradigm as senior vice president and director of specialty programs. Groenheide will lead a program that matches parametric risk...
Parametric Insurtech Startup FloodFlash Raises $15M for International Expansion
Feb 11 2022 // FloodFlash, the UK parametric insurance technology company that pays catastrophic flood claims within 48 hours, announced a Series A capital raise of $15 million. The round was led by Chicago-based Buoyant Ventures with...
Swiss Re Corporate Solutions Promotes 2 in Engineering & Construction; Chubb Names Houghton Head of Distrib., UK & Ireland; Marsh Hires AXA XL’s Latham to Lead ART, UK&I
Feb 2 2022 // This edition of International People Moves details appointments at Swiss Re Corporate Solutions, Chubb and Marsh. A summary of these new hires follows here. Swiss Re Corporate Solutions Promotes 2 in Engineering &...
Insurance Product Provides Cloud Downtime Cover Instantly
Feb 1 2022 // Parametrix Insurance, a provider of parametric cloud downtime insurance, and ComTech-Leavitt Insurance Services, a member of insurance brokerage Leavitt Group, have partnered to help businesses using the cloud reduce their...
Insurtech Descartes Underwriting Raises $120M to Expand Parametric Product Offering
Jan 31 2022 // Descartes Underwriting, the insurtech company that specializes in parametric natural catastrophe products, has announced a $120 million Series B funding round. Growth equity firm Highland Europe is leading the...
K2 Launches Parametric MGA in California Headed by Carpinteri
Nov 22 2021 // K2 Insurance Services LLC launched a managing general agency called K2 Parametric, which is being led by Scott Carpinteri, who has experience in the parametric insurance space. K2 Parametric will be based out of...
Demex and Vave Offer Parametric Extreme Temperature Insurance for U.S. Businesses
Nov 17 2021 // A technology firm and a managing general agent are partnering to offer extreme temperature insurance to commercial properties across the United States. According to Vave, an algorithmic underwriting MGA, and The Demex...
Insurtech Arbol Launches Bermuda MGU, Focusing on Parametric Reinsurance
Nov 10 2021 // Arbol Inc., a New York City-based insurtech platform for parametric protection products, announced the launch of Arbol Underwriters Ltd. (AUL), a registered insurance agent based in Bermuda, which is focused on providing...
Chaucer, Parametric Insurtech Yokahu Offer Product to Cut Caribbean Protection Gap
Nov 8 2021 // Chaucer, the London-based specialty re/insurance group, and parametric insurtech startup, Yokahu, are launching a new microinsurance product, which will provide cover for hurricane events in the Caribbean. This new...
Parametric Insurer CCRIF Strengthens Belize Warning Systems for Extreme Weather
Oct 26 2021 // Parametric catastrophe insurer CCRIF continues to strengthen Belize’s early warning systems for rainfall and climate forecasting with a new grant of US$43,140. This grant brings CCRIF’s Belize contributions to...
Neptune Flood Acquires Parametric Earthquake Insurance Broker Jumpstart
Oct 4 2021 // Digital flood insurance provider Neptune Flood has acquired Jumpstart Insurance Solutions, a parametric insurtech broker that offers parametric earthquake policies. Terms were not disclosed. Jumpstart, a licensed surplus...
Parametric Catastrophe Insurer CCRIF to Make Record Payout of $40M for Haiti Quake
Aug 19 2021 // CCRIF SPC, the Cayman Islands-based parametric catastrophe facility, will pay approximately US$40 million to the government of Haiti, following the devastating magnitude 7.2 earthquake, which struck the Caribbean island on...
Africa Specialty Risks Launches Parametric Underwriting Division
May 24 2021 // Africa Specialty Risks (ASR), the pan-African focused managing general agent, announced the launch of its parametric division, alongside the appointment of Dr. Raveem Ismail as head of Parametric Underwriting and Ian...
Lloyd’s Launches Parametric Earthquake Insurance Policy in New Zealand
Mar 24 2021 // Lloyd’s has launched a parametric earthquake insurance policy in New Zealand, in partnership with start-up Bounce Insurance, which uses cutting-edge technology and real-time data to automatically pay customers within...
Jumpstart Parametric Earthquake Firm on Move in West
Jan 22 2021 // Jumpstart Insurance Solutions Inc. is on the move in the earthquake-prone West – and the company is now working with insurance agents. Jumpstart, a licensed surplus lines insurance broker using Lloyd’s capacity,...
A Dozen Items Slated to Be Considered for California Export List
Nov 20 2020 // More items are being proposed for the California Export List than in recent memory, including coverages for cyber, parametric products, earthquake, and COVID-19, according to a surplus lines expert. The California...
Insurtech Blink Launches Non-Damage Business Interruption Parametric Solution
Nov 20 2020 // Irish insurtech Blink has launched a hurricane non-damage parametric insurance solution which provides liquidity to small and medium-sized businesses in the immediate aftermath of a natural disaster. Called “Blink...
