Find all of Artemis’ parametric insurance news, analysis and reports here.
Parametric insurance has existed for at least three decades but continues to gain traction within the market as a way to secure insurance coverage in a responsive and effective manner.
Parametric insurance involves a risk transfer being structured with a parametric trigger that defines the payout occurrence, typically based on an event parameter, such as wind speed, or earthquake intensity.
Parametric insurance and parametric triggers are now utilised widely across multiple classes of business and innovative structures are launching all the time.
Parametric triggers, coupled with increasingly granular data and technology, can “expand the limits of insurability” according to Swiss Re, especially when it comes to non-physical damage business interruption (NDBI).
Read the full article
The Government of The Bahamas has now received US $12.8 million in payouts from its parametric insurance policies with the CCRIF (formerly named the Caribbean Catastrophe Risk Insurance Facility).
Read the full article
Having already developed the first parametric insurance policy to insure and enhance the resilience of a coral reef section of the Mesoamerican Reef in Mexico, The Nature Conservancy (TNC) is now looking to expand the product’s reach into Florida and Hawaii.
Read the full article
Mark Carney, the Governor of the Bank of England, discussed the role of insurance and reinsurance technology as an essential financial took to smooth the world’s transition to a 1.5 degree world and highlighted the role of insurance-linked securities (ILS) within that.
Read the full article
Lloyd’s has developed a new parametric insurance policy for the hotel industry with a trigger that does not require a named peril to have occurred, rather paying out based on a decline in revenues being recorded.
Read the full article
Members of the Insurance Development Forum (IDF) have committed to provide up to US $5 billion of risk capacity to support delivery of the InsuResilience Vision 2025 goals, while the United Nations and other sovereign actors have committed to extending climate and disaster insurance to 500 million.
Read the full article
An index-based livestock insurance program has paid out to almost 3,000 smallholder farmers in Ethiopia, after its parameters were breached by satellite data inputs, triggering payouts of the drought protection the scheme provides.
Read the full article
The African Risk Capacity (ARC) will pay the Government of Côte d’Ivoire $738,835 after a deficit of rainfall during the growing season triggered the countries parametric insurance policy.
Read the full article
Blue Marble Microinsurance (Blue Marble) has announced an expansion of its weather-index parametric insurance partnership with The United Nations World Food Programme (WFP) in Africa.
Read the full article
The first parametric agricultural insurance programme has been launched in Cameroon, by AXA Cameroon and AXA Climate in collaboration with the World Bank Group’s Global Index Insurance Facility (GIIF).
Read the full article
