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Pandemic parametric triggers Q&A with Tom Johansmeyer, PCS

Pandemic protection. Is it included, excluded, or even mentioned in a policy or program? Even if it is, is the coverage responsive enough to really help the protection buyer, or should parametric solutions be looked at? If so, how to ensure they are robust?At a time when interest in pandemic read the full article →

Super launches direct to consumer parametric LatAm quake cover

A new direct to consumer parametric earthquake insurance product has been launched for the Latin America market by Super Seguros Inc., with reinsurance backing from global player Munich Re.Super Seguros, acting through its subsidiary which has become Mexico's first approved insurance managing general agent (MGA), launched Super Temblor© as the read the full article →

World Bank assists on parametric Asian infrastructure disaster insurance pool

The World Bank is working alongside the governments of Singapore and Japan to establish a disaster insurance pool to cover infrastructure risks for Asian countries, with the facility set to provide coverage from later this year.The infrastructure focused disaster insurance facility is expected to be managed by the Southeast Asia read the full article →

Parametric FloodFlash pays out a day after storm Ciara. Another glimpse of the future?

The promise of parametric triggers has always been faster claims payouts, with no lengthy assessment process and while many examples payout within days of a triggering event, the fastest we've seen following a true weather catastrophe is the payouts made within a day of windstorm Ciara by insurtech FloodFlash.Bringing together read the full article →

African Risk Capacity appoints former AXA exec as new CEO of insurer

A new CEO has been appointed to lead the insurance mutual and financial affiliate of the African Risk Capacity (ARC), the African Risk Capacity Insurance Company Ltd (ARC Ltd), with Lesley Ndlovu joining the firm from his most recent position with a division of AXA.The move comes as the tenure read the full article →

Gallagher to offer sensor-based parametric flood insurance to clients

Insurance broker Gallagher has teamed up with insurtech start-up FloodFlash to offer its innovative sensor-based parametric flood insurance product to commercial clients of the firm.The agreement between the two will help FloodFlash to expand the uptake of its sensor driven parametric flood insurance solution, while bringing flood coverage that may read the full article →

Cat bonds, risk pools, parametric triggers key to risk mitigation: Aon

Innovative insurance and reinsurance mechanisms such as catastrophe bonds, risk pooling facilities and parametric triggers are all key ways that risk mitigation can be improved in the world's most vulnerable areas, Aon said today.The insurance and reinsurance broker highlighted the continuing issue of the protection gap and the need for read the full article →

Philippines plans private sector catastrophe risk pooling facility

The Philippines government continues to expand the role of insurance and reinsurance markets in its disaster risk financing arrangements and to better protect its people, businesses operating in the country and government-owned assets, with the latest initiative a new catastrophe risk pool for the private sector.According to local media reports read the full article →

Caribbean earthquake could prompt CCRIF coverage assessment

A powerful magnitude 7.7 earthquake struck the Caribbean yesterday in the afternoon local time, swaying buildings as far away as Miami, Florida and causing some localised damage to countries including the Cayman Islands, Jamaica and Cuba.There have been no immediate reports of casualties and damage in the region appears relatively read the full article →

Aon & Brit back Icebreaker One’s open standard for climate data

Significant insurance and reinsurance industry players are backing a new non-profit start-up that aims to drive forwards the development of an open standard for sharing climate data, with the goal of enabling better design and development of climate risk related financial products along with the use of artificial intelligence.Icebreaker One read the full article →