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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 →

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 →

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 →

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 →

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 →

Parametric risk transfer critical to address climate change: WTW’s Hess at Davos

To reach the required levels of adaptation and increase the world’s resilience to climate change, parametric insurance is critical in order to manage the long-term impacts and the transition, according to Carl Hess, Head of Investment, Risk and Reinsurance at broker Willis Towers Watson (WTW).Hess was speaking as part of read the full article →

New Paradigm Underwriters hires Grunewald, formerly of Greenlight Re

New Paradigm Underwriters, LLC, the Florida-headquartered specialist managing general agency focused on parametric insurance, reinsurance and risk transfer products, has announced the hiring of former Greenlight Re Deputy Chief Underwriting Officer Matthew Grunewald.Grunewald has joined New Paradigm as Executive Vice President, Underwriting and Risk Capital, starting in the role from read the full article →

Philippines to try again on state asset & infrastructure reinsurance

The government of the Philippines is to try again to secure bids for an indemnity reinsurance program to cover around US $19.6 billion of its state-owned assets and infrastructure, having failed to secure the necessary market interest at the first attempt.As we reported in early December, the Philippines government entered read the full article →

Philippines fails to secure state asset & infrastructure reinsurance

The government of the Philippines has failed to secure the necessary bids for reinsurance support to cover roughly US $19.6 of state assets and infrastructure, according to a report.As we reported in early December, the Philippines government had entered into a 1 trillion pesos insurance cover with its own Government read the full article →