Latest Parametric Headlines
All the headlines from our Parametric Topic Page, ordered by recency.
Germany, Global Parametrics, Hannover Re Launch Climate Impact Fund
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...
FEMA Envisions High-Tech Flood Insurance Program Using Parametrics, Blockchain
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...
Hail Has Damaged Insurance Market for Car Dealers. Parametric Insurance May Help.
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...
Swiss Re’s Kaplan Joins North Carolina-Based AmWINS Group
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...
California Export List Hearing for Surplus Lines Slated for November
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...
Higher Than Usual Number of Items Could be Added at California Surplus Export List Hearing
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...
California Export List Hearing for Surplus Lines Slated for November
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...
Parametric Catastrophe Facility CCRIF Pays US$12.8M to Bahamas for Dorian Damages
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...
Rethinking the Limits of Parametric Insurance
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....
Update: Parametric Catastrophe Pool, CCRIF, to Provide Rapid Payout for Bahamas After Dorian
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...
Parametric Insurance Cover Provides French Farmers with Drought Relief
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...
JBA Risk Management and FloodFlash Launch Parametric Flood Policy in UK
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...
Clyde & Co. Launches Connected Parametric Insurance Contract
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...
Freeland Joins Assured Risk Cover to Grow Florida Parametric Product
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...
Insurers Pitch Quick-Paying Parametric Disaster Insurance to Public Sector
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...
AXA XL’s McGavick Looks Ahead to ‘The Golden Age of Insurance’
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...
Parametric Catastrophe Facility CCRIF Adds Panama to Growing Roster of Members
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...
Swiss Re Corporate Solutions Launches Parametric Water-Level Insurance in Europe
Jan 10 2019 // Swiss Re Corporate Solutions announced it is launching parametric water-level insurance called “FLOW.” This new index-based product is designed to protect companies in Europe from the financial impact of high...
Insurance Linked Securities’ Issuance Reaches Record $1.6B in Q3: Willis Re
Nov 6 2018 // The issuance of non-life insurance linked securities during the third quarter reached a record $1.6 billion, according to a report published by Willis Re. The total exceeds the former Q3 record of $1.4 billion achieved in...
Insurtech Jumpstart Rolls out Parametric Earthquake Product for Californians
Oct 15 2018 // A firm that wants to make a name for itself as the first parametric insurtech in the U.S. for earthquakes has officially launched in California, over a year after its anticipated original launch date. Jumpstart Insurance...
