Lao renews parametric flood cover from Seadrif Insurance with lower thresholds
February 7 2024 by InsuranceAsia News
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Seadrif, UN World Food Programme launch US$1.1m parametric disaster cover for Laos
- May 7
Impact-based disaster insurance policy, which is valid for 12 months from May 1, spans multiple hazards, including floods, tropical cyclones, earthquakes and landslides.
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Typhoon Wipha, flooding unlocks US$2m Seadrif parametric payout in Laos
- September 4
Payout was made under the new sovereign parametric insurance policy issued by the Asian risk pool in May, which features an annual aggregate trigger.
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Hanoi flooding from Typhoon Kajiki expected to result in limited commercial claims
- August 27
While the windstorm has caused significant damage, it did not hit the industrial areas, unlike Typhoon Yagi last year.
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Seadrif, Gallagher Re pioneer multi-peril parametric sovereign disaster risk policy for Laos
- July 18
The two-year cover, first to use a government-reported impact-based trigger, expands the original flood-only placement to include typhoon, earthquake, and landslide.
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