Latest Parametric Headlines
All the headlines from our Parametric Topic Page, ordered by recency.
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...
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...
