weather insurance

Global Parametrics has designed and structured a new parametric hurricane insurance product that is now being sold in the Caribbean country of Dominica and is backed by the capital from the firms Natural Disaster Fund (NDF).

As climate change becomes a topic of increasing focus and with regulations poised to get tighter, the ability to customise parametric insurance solutions suggests that going forward, the product set is going to expand, according to industry experts.

Hillridge Technology Pty Ltd, an Australian software technology company that aims to help users address the climate protection gap, has launched a weather index insurance platform with the support of Mitsui Sumitomo Insurance and Victor Insurance Australia, a subsidiary of Marsh.

Interest in parametric risk transfer and insurance is on the rise as the immediacy and availability of data improves and new types of market participants enter the fray, suggesting growth is on the horizon, according to industry experts.

In some situations, parametric insurance and risk transfer arrangements can benefit the protection buyer by providing coverage that wouldn’t have been available under a traditional indemnity insurance policy. You can learn about this and more in our upcoming live webcast (register here).

The Weather Risk Management Association (WRMA) and Artemis have partnered to host a live webcast on April 29th 2021 to discuss the role of parametric solutions in supporting climate resilience. The event will feature senior leaders from across the weather risk management and re/insurance space.

Global Parametrics and specialist flood risk modeller Fathom have partnered to develop a global parametric flood index that can be used in triggers of risk transfer, insurance and reinsurance arrangements.

Arbol, the provider of marketplace technology supporting parametric risk transfer and weather insurance, utilising smart contracts, has made a key hire, bringing onboard Hong Guo from GC Securities as its Chief Insurance Officer.

Arbol, Inc., the marketplace technology provider that supports parametric risk transfer or weather insurance and utilises smart contracts, has raised a $7 million Series A funding round to help grow its business.

Nephila Climate, the climate solutions are of ILS fund manager Nephila Capital, and the Capital Solutions unit of Allianz Global Corporate & Specialty (AGCS), have again come together to provide a risk transfer solution to support a renewable energy project construction financing.