Archive for November, 2008

Weatherbill have struck a deal with another holiday company to provide weather insurance to their customers. Sunquest Vacations, a Canadian travel company, are offering a policy called RainCheck which acts as a rainfall protection guarantee by offering another trip to travelers with the policy who experience rainfall of half an inch for half the days […]

Hurricane Paloma battered the Cayman islands of Brac and Litte Cayman during it’s rampage across the Caribbean over the weekend. The Cayman Islands are covered by the Caribbean Catastrophe Risk Insurance Facility but it’s not at all clear weather they will receive a payout from it. Cayman Brac received a direct hit from Paloma while […]

Hurricane Paloma has strengthened considerably and is now packing winds of 125mph and above. The storm has battered the Cayman Islands and is heading for Cuba where it will cross the island adding the devastation caused by the other hurricanes which have hit the unfortunate island this season. Tourist flights have been canceled into the […]

The Atlantic tropical storm season officially ends on the 30th November but even at this late stage in the season it’s worth keeping an eye on our tropical storm season page. Tropical storm Paloma has formed in the Caribbean sea and is headed for the Cayman islands from where it is expected to make it’s […]

Iffco-Tokio have introduced another micro-insurance product in India aimed to help farmers overcome the vagaries of the Indian climate. Mausam Bima Yojna is an index-based product designed to protect against deficiency in crop yield due to excess rainfall during a specified period. Rainfall data is collected by the insurer and claims are triggered based on […]

I’ve been mentioning public-private partnerships in my writings about catastrophe bonds and insurance-linked securities for a while now particularly in reference to potential replacements for state run cat funds. It’s good to find I’m not alone in my thinking about the potential for public and private entities to club together to issue catastrophe bonds. It […]