parametric insurance News

Parametric Caribbean Catastrophe Pool to Provide Quick Payout to Bahamas After Dorian

Some of the first financial relief the Bahamas receives in the aftermath of Hurricane Dorian may be a rapid insurance payout from a novel program just 12 years old. CCRIF, once short for the Caribbean Catastrophe Risk Insurance Facility, was …

Quick-Cash, Risk-Swap Deals Multiply in Extreme Weather Era

Some of the world’s largest insurers are eagerly pitching cities, states and even school districts on policies designed to pay out quickly with few questions in the event of extreme weather. The catch: Even a hurricane might not be extreme …

Telematics, Parametric Insurance and AI Pitched as Claims Solutions

Technology companies anxious to expand their market share in insurance sector announced this week the launch of products that will alert carriers of unsafe driving habits, expedite payments to small business owners whose operations are interrupted by earthquakes, and use …

Parametric Insurance Explored for U.S. Disasters

Catastrophic losses this year due to extreme weather events have led to a growing interest in parametric insurance in the U.S., according to industry experts. Weather stations and satellite images are helping to make parametric coverage an increasingly affordable and …