Latest Parametric Headlines
All the headlines from our Parametric Topic Page, ordered by recency.
Markets/Coverages: Liberty Mutual Re, Safehub Offer Parametric Quake Re/Insurance
Apr 23 2024 // Liberty Mutual Reinsurance (LM Re), part of Liberty Mutual Insurance Group, has announced a partnership with Safehub, a technology provider in seismic sensor and risk management solutions to offer a market-first,...
Markets/Coverages: Parametric Insurer FloodFlash Adds Business Interruption
Apr 15 2024 // Ahead of the 2024 Atlantic hurricane season, FloodFlash, which offers sensor-enabled parametric flood insurance, is launching a product to support business interruption (BI) coverage. U.S. Commercial Director Rich Coyle...
WTW Upgrades Hawaiian Coral Reef Parametric Insurance Policy
Mar 4 2024 // WTW and The Nature Conservancy (TNC) announced the purchase of a new coral reef insurance policy that expands coverage around the main Hawaiian Islands and increases payouts after qualifying storms. This replaces the first...
People Moves: AXIS Promotes Ashby to Chief Commercial Officer; Miller Launches Parametric Team Headed by Glenister From Mastercard
Mar 1 2024 // This edition of International People Moves details appointments at the re/insurer AXIS Capital Holdings and insurance broker Miller. A summary of these new hires follows here. AXIS Promotes Ashby to Chief Commercial...
WTW Upgrades Hawaiian Coral Reef Parametric Insurance Policy
Feb 16 2024 // WTW and The Nature Conservancy (TNC) announced the purchase of a new coral reef insurance policy that expands coverage around the main Hawaiian Islands and increases payouts after qualifying storms. This replaces the first...
Markets/Coverages: Descartes Launches 1st Parametric Cyber Shutdown Cover in France
Feb 2 2024 // Descartes Insurance, the risk-carrying insurer formed in 2022 by climate-risk managing general agent Descartes Underwriting, has launched the first parametric cyber insurance for corporate clients in France. Described as...
Parametric Re/Insurer NormanMax Gets ‘in Principle’ Nod to Launch Lloyd’s Syndicate
Dec 21 2023 // NormanMax Insurance Holdings, the Ft. Lauderdale, Fla.-based parametric re/insurance group, has received “in principle” approval from Lloyd’s to launch a syndicate, which will be managed by Apollo...
Markets/Coverages: Howden Launches Climate Parametrics Practice to Help Clients Derisk Net-Zero Climate Transition
Oct 17 2023 // Howden, the London-based insurance group, announced the creation of Howden Climate Parametrics, a global practice that brings together re/insurance, climate, and data expertise to focus parametric risk transfer solutions...
CelsiusPro Buys UK’s Global Parametrics to Strengthen Climate, Nat Cat Risk Solutions
Sep 7 2023 // CelsiusPro AG, the Zurich-based parametric insurance managing general agent, announced the acquisition of Global Parametrics Holding Co. Ltd. CelsiusPro said the deal will strengthen its global capabilities to offer...
Intangic MGA Launches Cyber Parametric Policy With Backing From AXA XL
Mar 16 2023 // Intangic MGA, a London-based cyber managing general agent (MGA), has been launched with capacity backing from AXA XL, offering new cyber insurance cover for large public corporations headquartered in the UK. The company is...
New York City Launches Parametric Flood Program With Insurance, Tech Firms
Mar 8 2023 // Insurer Swiss Re Corporate Solutions, reinsurance broker Guy Carpenter, and the data technology firm ICEYE have teamed up with New York City government agencies to develop a pilot parametric flood recovery assistance...
FloodFlash Eyes Parametric Splash in U.S.
Dec 6 2022 // Parametric flood insurance is still in its infancy in the United States, but one index-based insurer is preparing to make a splash in five states in early 2023. FloodFlash is set to begin offering parametric coverage for...
Insurance Technology: BirdsEyeView Wins Funds for Parametric Cover; Audatex Adds Live Car Valuation Data
Jun 22 2022 // Parametric Insurtech startup BirdsEyeView has closed a seed funding round for an undisclosed amount led by SFC Capital, with the funds matched by the European Space Agency (ESA). BirdsEyeView uses satellite data to...
MGA Rokstone Launches Parametric Insurance Product for Caribbean
Jun 21 2022 // Aura Underwriting, part of Rokstone, the Aventum Group’s global specialty re/insurance MGA, has announced the launch of Aura Parametric, a new Caribbean parametric product to complement its existing Lloyds Caribbean...
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 &...
