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Fiji exempts parametric climate & disaster insurance from VAT

In a positive move to accelerate and widen the roll-out of important parametric insurance products to protect against climate and disaster risks, the Government of Fiji has exempted them from value added tax (VAT). It's the first time we know of where a government has moved to make disaster insurance more read the full article →

Global Parametrics links climate risk transfer to microfinance funding

Global Parametrics has collaborated on a new climate risk transfer product that integrates parametric risk transfer with the provision of debt financing to microfinance organisations and initiatives. CRED, or the Climate Resilience Enhanced Debt (CRED) product, has been jointly developed by Global Parametrics and Enabling Qapital, an impact investor and advisor read the full article →

Swiss Re CorSo settles parametric hurricane Ida claim

Swiss Re Corporate Solutions, the large commercial risk specialist unit of the global reinsurance firm, has already settled one parametric insurance claim, after a clients parametric trigger was breached by hurricane Ida's wind speeds. With hurricane Ida making landfall at Category 4 strength, with sustained winds recorded on the ground at read the full article →

Reask helps Swiss Re CorSo expand parametric wind cover worldwide

Swiss Re Corporate Solutions, the large commercial risk specialist unit of the global reinsurance firm, is expanding the utility of its parametric tropical cyclone insurance product with the help of Reask, a climate analytics and data company that uses machine learning techniques. Reask is helping Swiss Re Corporate Solutions to expand read the full article →

Arbol’s Captive+Parametric to help corporations manage climate risk

Arbol, a technology-led company focused on parametric risk transfer and weather insurance markets, has launched an intriguing new solution named Captive+Parametric, which is designed to help corporations better manage climate risk and climate change exposure, with the help of parametric risk transfer to captive structures. Launched in Vermont yesterday, Arbol, which read the full article →

Arbol’s climate data network dClimate gets Mark Cuban investment

Things are hotting up in the weather risk management and parametric risk transfer technology space and Arbol, a smart contract, parametric risk transfer and weather insurance marketplace technology provider is one of the companies leading the charge. Arbol's founders have launched dClimate, a decentralized network for climate data and now received read the full article →

Parsyl sensor driven parametric insurance pays-out in less than 8 hours

Parsyl Inc., a provider of data-driven, sensor-based systems that are used in parametric risk transfer and insurance, has made a pay-out under a temperature linked policy in less than 8 hours. The company claims it as an industry record of sorts, but of course there are weather derivative contracts that can read the full article →

Global Parametrics structures, backs hurricane product in Dominica

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). The parametric and index-based disaster risk transfer company is working alongside a statutory agency of read the full article →

Global Parametrics & Fathom partner on global flood index

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. Global Parametrics is set to utilise high resolution data from Fathom to create the new flood risk index, significantly reducing basis read the full article →

Arbol hires Guo from GC Securities as Chief Insurance Officer

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. Hong Guo joins Arbol as Executive Vice President and Chief Insurance Officer and will lead all insurance related read the full article →