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FEMA urged to use parametric triggers & ILS to drive insurance penetration

The U.S. Federal Emergency Management Agency (FEMA) is being urged to explore the use of parametric triggers as well as insurance-linked securities (ILS) to help drive increased insurance penetration for flood and other natural hazards and enable better financed disaster recovery.With a goal of increasing financial preparedness among both householders read the full article →

Significant opportunities for parametric growth, say Descartes execs

Recent developments in the re/insurance and ILS markets have resulted in a significant expansion of parametric solutions, and executives at Descartes Underwriting believe many opportunities for further growth are now available to companies offering these kinds of products.Tanguy Touffut, CEO & Founder at Descartes Underwriting, and Edern Le Roux, Head read the full article →

Parametric MGA Descartes Underwriting hires ILS specialist Le Roux

Descartes Underwriting, the start-up insurance technology (insurtech) managing general agency (MGA) that focuses on parametric and data-driven risk transfer products, has hired Edern Le Roux, an ILS specialist previously from SCOR Investment Partners.Descartes Underwriting launched recently with an ambition to utilise the insurance-linked securities (ILS) market as a source of read the full article →

Descartes Underwriting launched as parametric, data-driven MGA

Descartes Underwriting has been launched as a start-up insurance technology (insurtech) managing general agency (MGA) with a focus on parametric and data-driven risk transfer products and an ambition to utilise the ILS market as a source of capacity.Launching Descartes Underwriting is Chief Executive Officer (CEO) Tanguy Touffut, who was previously read the full article →

Swiss Re backs mobile parametric insurance for China typhoon risk

Global reinsurance giant Swiss Re has partnered with China’s Ping An Property & Casualty Insurance Company of China, Ltd to develop and deliver mobile-enabled parametric insurance protection against typhoons.The new parametric solution is China’s first mobile-enabled coverage for property losses as a result of typhoons, and covers eight coastal provinces read the full article →

Swiss Re in Taiwan parametric aquaculture insurance first

Global reinsurance firm Swiss Re, with the assistance of local specialist insurer Taiwan Fire & Marine Insurance, has developed the first parametric aquaculture insurance solution covering fish farmers in Taiwan against extreme rainfall.The parametric insurance product will cover 120,000 hectares of grouper onshore fish ponds in Ping Tung County, Taiwan read the full article →

Swiss Re in Brazil parametric hydro-power insurance first

Swiss Re Corporate Solutions has completed the issuance of the first weather-indexed parametric insurance policy for a hydroelectric power company in Brazil, helping the company to mitigate its risks associated with Brazil's severe drought of recent years.The insurance arm of global reinsurance firm Swiss Re has helped a Brazilian hydroelectric read the full article →

Parametric insurance launched for farmers in China, backed by Swiss Re

The first parametric disaster insurance programme for farmers in China has been launched, covering participants against the impacts of flood, excessive rain, drought and low temperatures in 28 counties across Heilongjiang province.Global reinsurance firm Swiss Re has provided the risk transfer required to back this new parametric insurance programme, by read the full article →

Dual parametric / industry loss trigger ILW’s marketed

Artemis has learned that there are some industry-loss warranties (ILW's) with a novel new structure currently being marketed to insurance-linked investors. The ILW's feature a dual trigger, with a parametric and PCS industry loss both used.These dual trigger parametric / industry loss based ILW's are potentially a very good option read the full article →

Parametric ‘cat in a box’ Israel earthquake reinsurance deal completed

A first of its kind Israel earthquake parametric reinsurance transaction has been brought to market successfully by reinsurance firm Munich Re and capital markets reinsurance broker arm Aon Benfield Securities for Israeli insurer I.D.I.The innovative transaction uses a parametric 'cat in a box' solution, which would enable any potential loss read the full article →