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Descartes Underwriting launched as parametric, data-driven MGA

Descartes Underwriting has been launched as a start-up insurance technology (insurtech) managing general agency (MGA) with a focus on parametric and data-driven risk transfer products and an ambition to utilise the ILS market as a source of capacity.Launching Descartes Underwriting is Chief Executive Officer (CEO) Tanguy Touffut, who was previously read the full article →

Indonesia’s cat bond discussions ongoing

Indonesia's government continues to have discussions regarding the use of catastrophe bonds as a disaster risk financing tool to better protect the country against the impacts of earthquakes and tsunamis.Last October it was reported that the Indonesian Finance Ministry had engaged with global agencies that could assist the country in read the full article →

Parametric Philippine City Disaster Insurance Pool in the works

The Philippines, the Asian Development Bank and private market entities are working to develop a parametric disaster insurance pooling facility for Philippine cities to buy protection from, backed by reinsurance and capital markets funding.The Philippine City Disaster Insurance Pool (PCDIP) is being designed by a collaboration between the Philippine Department read the full article →

Panama joins CCRIF, buys parametric rainfall cover

The CCRIF SPC (formerly named the Caribbean Catastrophe Risk Insurance Facility) has expanded its parametric risk pool to include Panama, as the Central American country joins the provider of parametric sovereign disaster risk transfer products and signs up for excess rainfall protection.The CCRIF is a multi-country risk pool, providing parametric read the full article →

Parametric water-level insurance launched in Europe by Swiss Re

Commercial risk transfer and corporate insurance solutions provider Swiss Re Corporate Solutions has launched a new parametric product designed to protect European companies that are exposed to high or low water levels.A division of the global reinsurance firm Swiss Re, Swiss Re Corporate Solutions increasingly offers tailored parametric insurance products read the full article →