Latest Parametric Headlines
All the headlines from our Parametric Topic Page, ordered by recency.
Emerging Risks/Markets Offer New Opportunities: 2017 Predictions, Part 3
Dec 21 2016 // Insurers and reinsurers continue to look for organic growth where they can find it – sometimes from emerging risks and sometimes from emerging markets. As always, the keys to success are market knowledge and...
Caribbean Cat Facility, CCRIF, Pays Nicaragua $1.1M for Hurricane Otto
Dec 14 2016 // CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) made a payout of US$1.1 million to the government of Nicaragua as a result of damages from Hurricane Otto. Damages triggered a CCRIF payment on the...
10 Takeaways from the Future of Insurance and InsureTech Connect Conference
Oct 17 2016 // You’ve probably heard. There is tremendous investor interest right now in technology-first insurance startups, or insurtech firms. The first InsureTech Connect Conference in Las Vegas in early October attracted an...
Caribbean Cat Facility, CCRIF, Pays Belize for Excess Rain From Hurricane Earl
Aug 23 2016 // CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) made a pay-out of US$261,073 to the government of Belize as a result of heavy rains from Hurricane Earl on Aug. 4-5. Rainfall from the hurricane caused...
Disaster Response: Pandemic Insurance to the Rescue
Jul 11 2016 // The shoe may eventually be placed on the other foot for the United States. This nation has a long-standing tradition of innovating products and ideas – particularly insurance products – and then exporting them to other...
Pandemics and Climate Change Present Opportunity for Insurers
Jun 9 2016 // The shoe may eventually be placed on the other foot for the U.S. This nation has a long-standing tradition of innovating products and ideas – particularly insurance products – and then exporting them to other...
EU Contributes $15.8M to Caribbean Catastrophe Risk Insurance Facility
Apr 18 2016 // The European Commission has agreed to contribute €14 million ($15.8 million) so the governments of Central American countries and the Dominican Republic can access to “low cost, high quality catastrophe risk...
G7 Endorses African Risk Capacity Program as Model for Climate Insurance
Jul 7 2015 // An announcement from African Risk Capacity (ARC) notes that “G7 leaders have singled out Africa’s first parametric catastrophe insurance pool, as a model upon which to develop catastrophe insurance solutions in...
African Risk Capacity (ARC) Payouts to Exceed $25 Million
Jan 26 2015 // The African Union’s African Risk Capacity’s affiliated mutual insurance company, ARC Ltd, is set to make claim payouts of more than $25 million to three of its member states belonging to its catastrophe...
CCRIF/Swiss Re Offer Caribbean Governments Insurance against Excess Rainfall
Aug 11 2014 // The Caribbean Catastrophe Risk Insurance Facility (CCRIF) announced that eight of its members have become the first countries to purchase its excess rainfall insurance coverage – for the 2014/2015 policy year. CCRIF...
Aon Benfield Securities Completes Quake Protection for Israeli insurer I.D.I.
Mar 5 2014 // Aon Benfield Securities, the investment banking division of global reinsurance intermediary and capital advisor Aon Benfield, announced that it has “successfully completed a ‘Cat in the Box’ transaction...
EQECAT President Paul Little on Cat Models – from the General to the Specific
Oct 11 2013 // EQECAT’s President Paul Little explains how cat models have evolved from the general to the specific and what’s now required to create good ones. He also foresees cellular technology – iPhones, Androids,...
‘Parametric’ Covers Central to Insure Public Entities Says Cooper Gay Exec
Nov 1 2011 // Despite the ever increasing severity and frequency of natural catastrophes, “insuring public entities in affected countries is becoming simpler due to the emergence of new parametric trigger insurance”...
Swiss Re Structures $138.6 Million Cat Bond for Groupama
Oct 6 2010 // Swiss Re’s Capital Markets unit announced that it has ‘successfully structured and placed €100 million [$138.6 million] of securities issued by Green Valley Ltd.,” covering windstorm events in...
RMS Releases New Japan Typhoon Parametric Industry Loss Index
Sep 21 2010 // Risk Management Solutions has added to its Japan typhoon existing suite of parametric industry loss indices. The program “now includes the insurance industry’s five largest peril regions – U.S. hurricane...
Swiss Re: Pools & Parametric Covers, May Lessen Nat Cat Impact
Jul 13 2010 // The early appearance of Hurricane Alex, which hit Mexico and the Gulf coast of the U.S., was, according to experts at Swiss Re, “a relatively unusual occurrence in June and could signal a very active hurricane...
RMS Announces New Parametric Loss Index for Japan Quake Risks
May 19 2010 // Risk Management Solutions announced the addition of Japan earthquake to its existing suite of parametric industry loss indices covering U.S. hurricane, U.S. earthquake, and Europe windstorm. RMS said: “Paradex Japan...
Innovative Use of Insurance Tools in Disaster Risk Management for Sustainable Development
Mar 22 2010 // The devastating effects of Hurricane Ivan in the summer of 2004, when it crossed the Caribbean Sea causing major damage in Grenada, Jamaica and the Cayman Islands, produced one good thing. The Caribbean Community and...
CCRIF, CIMH to Launch Excess Rainfall Model for New Insurance Policy
Feb 25 2010 // The Caribbean Catastrophe Risk Insurance Facility (CCRIF) and the Caribbean Institute of Meteorology and Hydrology (CIMH) are launching their Regional Rainfall Model today, February 25, at CIMH headquarters in Husbands,...
AIR Involved in 80% of $2.1 Billion in Catastrophe Bonds Issued in 2009
Oct 28 2009 // Boston-based AIR Worldwide Corp. (AIR) reported that it has provided risk modeling and analytical services for over 80 percent of the $2.1 billion of catastrophe bonds issued to date in 2009. AIR said it has been the...
