Latest Parametric Headlines
All the headlines from our Parametric Topic Page, ordered by recency.
Lloyd’s U.S. Chief Says They’re Ready to Get into Canadian Cannabis Market
Oct 2 2018 // Lloyd’s is set to get into Canada’s cannabis market when recreational marijuana becomes legal there on Oct. 17, according to Hank Watkins, president of Lloyd’s America Inc. Watkins was speaking today at...
Insurtech Jumpstart Rolls out Parametric Earthquake Product for Californians
Oct 2 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...
People
Sep 3 2018 // NationsBuilders Insurance Services, Inc. (NBIS), a provider of specialty program insurance to the heavy construction industry, has added Chris Nelson as transportation program manager. Nelson will represent NBIS within the...
Assured Risk Cover Expands StormPeace Parametric Insurance to Florida Businesses
Jul 26 2018 // Assured Risk Cover, a provider of parametric hurricane insurance, launched a commercial insurance policy for small businesses in Florida under the StormPeace name. The policy contains all the features of the StormPeace...
Cat Facility CCRIF Welcomes 2 New Members: British Virgin Islands, Montserrat
Jun 14 2018 // CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) announced that British Virgin Islands and Montserrat have joined the facility and purchased coverage for the 2018/19 policy year, beginning June...
Former Florida Insurance Chief McCarty Joins Assured Risk Cover Board of Advisors
Jun 7 2018 // Assured Risk Cover, provider of StormPeace residential parametric insurance, has announced that former Florida Insurance Commissioner Kevin McCarty has joined its board of advisors. McCarty served as Florida’s first...
Miami Beach Looking at Parametric Insurance Policy to Cover Budget Shortfalls
May 7 2018 // Miami Beach’s tourism industry has suffered one blow after another in recent years. First, Brazil’s economy tanked and a strong U.S. dollar prompted would-be international travelers to stay home. Then Zika...
How Parametric Products Work to Supplement Indemnity Policies: RIMS
Apr 30 2018 // Corporate risk managers are buying parametric insurance policies to supplement, not replace, their indemnity-based policies. The parametric products worked well with customers hit by the 2017 hurricanes, according to...
UK Invests in Natural Disaster Hedge Fund Focused on Insurance for Developing Nations
Feb 26 2018 // Britain is backing a hedge fund that aims to raise $200 million to give developing countries access to climate risk insurance. Britain’s Department for International Development (DFID) is investing 25 million pounds...
Aon Securities Structures Largest-Ever Earthquake Catastrophe Bond for World Bank
Feb 7 2018 // Aon Securities, the investment banking division of reinsurance intermediary and capital adviser Aon Benfield, has assisted the World Bank in structuring the largest-ever catastrophe bond covering earthquake, which provides...
India Flags Low Health Insurance Penetration as Damper to Growth
Feb 6 2018 // India’s push toward universal health care has Prime Minister Narendra Modi’s political opponents worried, a top government adviser said. Modi’s government announced a plan last week to provide health...
ARC, FAIA to Offer Parametric StormPeace Coverage to Florida Member Agents
Jan 31 2018 // The Florida Association of Insurance Agents (FAIA) and Assured Risk Cover (ARC) have formed an agreement that grants FAIA member agents access to the StormPeace parametric insurance product that pays out-of-pocket expenses...
Parametric Insurance Can Help Close Global Protection Gap: Clyde & Co. Report
Jan 9 2018 // Parametric insurance can play a significant role in closing the insurance protection gap – a problem that plagues economies in both the developing and developed world, according to a report published by Clyde &...
Experts See Expanding Role for Parametric Insurance, Including for U.S. Disasters
Jan 8 2018 // Catastrophic losses this year due to extreme weather events have led to a growing interest in parametric insurance in the U.S., according to industry experts. Parametric coverage is also gaining traction as hazard modeling...
Experts See Expanding Role for Parametric Insurance, Including for U.S. Disasters
Nov 22 2017 // Catastrophic losses this year due to extreme weather events have led to a growing interest in parametric insurance in the U.S., according to industry experts. Parametric coverage is also gaining traction as hazard modeling...
Cat Facility CCRIF to Pay 6 Caribbean Nations $29.6M for Hurricane Irma Damage
Sep 13 2017 // Cayman Islands-based CCRIF (formerly the Caribbean Catastrophe Risk Insurance Facility) will make payments totaling US$29.6 million to six Caribbean nations recovering from Hurricane Irma. CCRIF’s parametric tropical...
Blockchain Used as Settlement Mechanism for Cat Bond with Parametric Trigger
Aug 14 2017 // Financial markets are showing some signs of volatility these days after exceptionally low indicators since the start of the 2017. The Chicago Board Options Exchange Volatility Index, or VIX, is at its highest level this...
Exclusive: California Broker Plans Parametric Quake Product That Pays Even If No Damage
Jul 21 2017 // A California broker is promising to bring a “first-of-its-kind financial resource” that pays homeowners after an earthquake for a low monthly premium whether there’s damage to the home or not. A Berkeley,...
New Insurance Products Could Cut Natural Disaster Costs in Poorer Nations: Report
Jul 12 2017 // New types of insurance could cut the costs of natural disasters for poorer countries and reduce the amount of humanitarian aid needed, according to a report commissioned by Britain’s international development...
Swiss Re, Ping An Offer China’s 1st Mobile-Enabled Parametric Insurance Cover
Jul 7 2017 // Swiss Re has partnered with Ping An Property & Casualty Insurance Co. of China Ltd. to launch China’s first mobile-enabled typhoon property parametric insurance solution. This solution is designed to provide an...
