parametric trigger

Descartes Underwriting, the parametric insurance and data-driven risk transfer specialist managing general agency (MGA), has named former Chief of Staff Marlène Luce to take on the new role of Head of Strategy & New Business, as leader of a newly formed department.

The CCRIF SPC (formerly known as the Caribbean Catastrophic Risk Insurance Facility), has announced the launch of its sixth parametric insurance product line, as a new segregated account has been established to warehouse parametric risk from insurance policies sold to water utilities.

Munich Re Trading, the division of the global reinsurance firm focused on providing weather and commodity solutions, including derivatives, index and parametric risk transfer, has hired a senior executive from Arbol, as John Coleman joins it to lead origination for agriculture opportunities in North America.

The African Risk Capacity (ARC) has designed a parametric risk transfer solution that will be integrated with a World Bank designed social protection program for Malawi, to provide emergency financing in response to drought conditions in the country.

Parametric insurance and data-driven risk transfer specialist managing general agency (MGA) Descartes Underwriting has announced the hiring of Ola Jacob as its new UK & Ireland Business Development Director.

Tanguy Touffut, the CEO & Co-founder of parametric insurance and risk transfer specialist Descartes Underwriting, expects strong growth for the parametric marketplace, while the role of insurance-linked securities (ILS) investors in backing parametric risk transfer structures is expected to increase as well.

Global reinsurance firm Swiss Re may be required to help pay claims related to typhoon Saola’s impacts in the province of Guangdong, China, as the company believes a parametric scheme that it reinsures could be triggered, executives said in Monte Carlo yesterday.

The CCRIF SPC (formerly known as the Caribbean Catastrophic Risk Insurance Facility), has announced that at its renewals this year, some 66 parametric insurance policies were renewed by its members, while the member base also grew and the risk diversification within the pool continues to expand.

Liberty Mutual Re, the reinsurance arm of the insurance group, has launched what it terms a first, a new parametric reinsurance treaty for earthquakes that takes its trigger from installed sensor data.

CelsiusPro AG, the Swiss headquartered weather index insurance and parametric risk transfer specialist, has announced a significant acquisition as the company has purchased fellow parametric and index-based specialist Global Parametrics.