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Global Parametrics has collaborated on a new climate risk transfer product that integrates parametric risk transfer with the provision of debt financing to microfinance organisations and initiatives.

MiCRO, the Microinsurance Catastrophe Risk Organisation, an index-based and parametric insurance company established in Barbados and founded by Fonkoze and Mercy Corps with the support of Swiss Re, has made payouts in two countries following the extreme rainfall caused by tropical storm Amanda earlier this season.

More granular and higher resolution satellite data from earth observations are set to improve weather and catastrophe event insights for the insurance, reinsurance and insurance-linked securities (ILS) industry, according to the CEO of Orbital Micro Systems.

Technology giant Microsoft has entered into three transactions involving the world’s largest insurance and reinsurance linked investment manager Nephila Capital, as the company looks to hedge the weather risk associated with renewable energy production, making its energy costs more secure in the process.

The Microinsurance Catastrophe Risk Organisation (MiCRO), a reinsurance company established in Barbados and founded by Fonkoze and Mercy Corps with the support of Swiss Re, has launched a new parametric insurance product in El Salvador that is designed to provide business interruption coverage.

The Microinsurance Catastrophe Risk Organisation (MiCRO), a Barbados based reinsurance company that leverages the capital efficiency of the international reinsurance market alongside donor capital, has launched a novel index-linked business interruption policy.

Microsoft Corp. has revealed that it was a buyer in the first transaction to use the innovative wind farm weather hedging revenue product created by Allianz Risk Transfer (ART) with the help of Nephila Capital.

Parametric or weather-index insurance cover through microinsurance schemes continues to expand its reach across Africa, a trend that could result in greater demand and utilisation of reinsurance and insurance-linked securities (ILS) capacity.

Reinsurance firm Swiss Re, with partners PT Asuransi Wahana Tata (Aswata) and Mercy Corps, have recognised the protection gap opportunity to provide risk transfer to capital providers, launching a parametric earthquake insurance product targeted at micro-finance institutions (MFIs) in Indonesia.

The Microinsurance Consortium and Venture Incubator (MVI) has announced the group will now operate under the name Blue Marble Microinsurance (Blue Marble), a venture launched earlier this year with a goal to increase access to insurance for the world’s most vulnerable people.