Industry Segments: Parametric Page 1 / 3
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- November 20 2024
Rokstone launches global multi-peril parametric offering with US$10m facility
The MGA has partnered with NormanMax Lloyd’s Syndicate 3939 to launch to cover earthquake, hurricane, tropical cyclone and typhoon risks, with further perils including floods set to be added next year.
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- October 23 2024
HDI Global’s ART unit eyes Asia expansion under new leadership
The carrier’s specialist unit HDI Enablers is looking to expand into Malaysia following the appointment of Eric Joly-Pottuz as head.
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- October 1 2024
Seadrif’s Typhoon Yagi pay out in Laos tops US$3m
The extended flood impact triggered a second parametric payout of US$2.25 million on September 30, just a week after the initial pay out of US$750,000 was made to the ministry of finance.
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- September 27 2024
Parametrics can complement reinsurers’ capital protection platforms
Guy Carpenter’s Jeremy Waite discusses how index-based products can fill the protection gap left by indemnity insurance from deductibles, excluded perils, scarce capacity and contingent business interruption.
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- September 25 2024
Typhoon Yagi triggers Seadrif parametric pay out in Laos
The Asean risk pool initiatied the US$750,000 payout on September 20, which was five days after the peak of the flooding in the country's capital Vientiane.
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- September 16 2024
RVS Monte Carlo: Market can expect return to calmer waters
After a bruising couple of years, this year’s Rendez-vous de Septembre indicated that the hard market is over, with alternative forms of capital and risk solutions here to stay.
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- August 22 2024
Climate change exposes banks to ‘silent’ risks as insurance gets more unaffordable: Aon
Banks can leverage on tools and datasets that insurers have been using for pricing climate risks. Alternative risk transfer tool such as parametrics can also provide additional protection, the broker said.
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- August 16 2024
Nat cat risk pool, parametrics can improve China’s climate resilience: Ping An Insurance
In a jointly-issued report, China's second P&C insurer has put forward a range of recommendations on how authorities can work with the sector to mitigate disaster risks.
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- August 15 2024
‘Impact insurers’ run into capacity, distribution hurdles in Asia
Public partnerships, people-centric design and tech solutions are needed for parametrics to be a part of the region’s relief capital mix and to close the protection gap.
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- August 7 2024
Munich Re, SBI General Insurance to lead Indian state’s parametric rainfall cover
The Nagaland State Disaster Management Authority has appointed the two as the lead reinsurer and insurer to enhance the North-Eastern Indian state's resilience against excess rainfall.
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- August 5 2024
Axa debuts parametric heatwave cover for Hong Kong, Macau outdoor workers
Insured individuals are eligible to receive a payout of US$12.9 each, or an ‘anti-heatwave kit’ of an equivalent value, without the need to submit claims or prove damage or loss.
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- June 24 2024
InsuResilience expands India parametric rainfall cover with further premium support
In 2020, ISF co-funded the development and implementation of the excess rainfall cover for India north-eastern state of Nagaland.
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- June 12 2024
Extreme heat triggers parametric payout for 50,000 women in India
The parametric insurance, which benefited women working in the informal sector, was underwritten by Swiss Re and provided locally by ICICI Lombard.
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- June 7 2024
Seadrif FY2023 net profit up 84% on deferred income
The regional catastrophe risk platform saw loss from its insurance operations widen in 2023, but its profit was lifted by surplus grants from the MAS and the World Bank.
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- May 23 2024
Brokers eye parametric possibilities in Asia for nat cats and beyond
Intermediaries are taking the index-based products route to provide coverage for risks that were once considered too complex or too difficult to insure.
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- May 21 2024
Pacific Cat Risk Insurance, WTW tie up to offer subsea cable parametric cover
The policy will cover the state-owned telecom firm’s submarine fibre optic cable network in earthquake-prone Papua New Guinea.
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- February 15 2024
MIC Global partners WRMS to offer parametric flood cover for India’s gig workers
The Lloyd’s player’s micro-insurance product will cover against financial impacts from extreme weather events.
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- February 7 2024
Lao renews parametric flood cover from Seadrif Insurance with lower thresholds
The parametric policy, which was first purchased by the government in 2021, as been expanded from 2 levels to 4 levels and thresholds lowered, providing flexibility to address varying risk scenarios, the Asean insurance platform said.
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- February 5 2024
WTW launches parametric protection for South Pacific coral reefs
Fiji’s island communities will be eligible for payouts of up to US$450,000 for reef restoration and community assistance if cyclones hit.
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- January 25 2024
China’s parametric pilots for nat cat cover finding early success: Taiping Re CEO
Wider use of index-based insurance and ILS is key to finding much-needed capacity for (re)insurers and widening nat cat insurance, according to Sheldon Yu.
