Lao renews parametric flood cover from Seadrif Insurance with lower thresholds
February 7 2024 by InsuranceAsia News
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Seadrif wires second US$1.14m to Laos, WFP as heavy rains continue
- September 6
Second payment lifts total parametric disbursements to US$2.278m in less than a week under a two-year sovereign policy that provides up to US$16m in multi-peril protection.
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Seadrif triggers US$1.14m parametric payout for Laos floods
- September 1
Insurer disburses US$1m to the government under its US$8m annual coverage and US$137,500 to the UN's World Food Programme under its US$1.1m policy.
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Seadrif, UN launch anticipatory drought insurance pilot in Laos
- May 29
Policy provides pre-arranged financing based on early warning data, before drought conditions severely affect farming households and rural communities.
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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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