Reinsurance News
Parametric insurance news
Parametric insurance and parametric reinsurance are growth areas for the industry. We cover news on many forms of parametric risk transfer to provides our readers with insights into developments in the re/insurance market related to parametric triggers.
Parametric insurance utilises catastrophe event, weather, or other data parameters to define payout structures and triggers for contracts. It is considered a fast, pre-defined payout system, with payouts coming due when a specific, objective event occurs and a pre-defined parameter is reached, rather than assessing actual physical loss like traditional indemnity insurance.
This archive features our news on the use of parametric triggers to structure insurance or reinsurance protection, as well as discussion on the benefits of parametric triggers as transparent, fast-paying trigger mechanisms for providing parametric insurance and reinsurance coverage.
VisionFund, Global Parametrics to develop Amazon Basin parametric cover
16th October 2026
VisionFund, the financial inclusion arm of World Vision, working with Global Parametrics and co-financed by the InsuResilience Solutions Fund, will design a two-peril parametric meso-insurance for World Vision offices in Bolivia, Brazil, Colombia, and Peru as part of the wider Amazon Basin Initiative. The firms said this move aims to address ... Read the full article
Nepal and World Bank Group sign mandate to develop cat bond for earthquake
16th October 2026
Nepal and the World Bank (International Bank for Reconstruction and Development, IBRD) have signed a mandate agreement to explore the development of a catastrophe bond for quicker access to funds in case of a major earthquake. The agreement between the two parties marks the beginning of a collaboration to assess how ... Read the full article
CCRIF to make $17.4m payment to Panama after M7.7 quake triggers parametric coverage
16th October 2026
CCRIF SPC, the regional parametric risk pool for the Caribbean and Central America, has announced it is to make a payout of US$17.4 million to the Government of Panama following the magnitude 7.7 earthquake that struck the country on October 9, 2026. In line with CCRIF’s operational mandate to provide rapid liquidity ... Read the full article
FM broadens alternative risk transfer offering
15th October 2026
FM, a commercial property insurer focused on property protection, engineering and loss prevention, has expanded its alternative risk transfer offering, introducing additional options for clients seeking greater flexibility in managing their insurance programmes. The expanded portfolio comprises parametric insurance, structured risk solutions and captive cell arrangements. These options are intended to ... Read the full article
PCRIC & UNDRR sign agreement to advance parametric solutions in the Pacific
12th October 2026
The Pacific Catastrophe Risk Insurance Company (PCRIC), a provider of parametric disaster insurance, and the United Nations Office for Disaster Risk Reduction (UNDRR) signed a Letter of Cooperation to strengthen their shared commitment to advancing disaster risk reduction and financial resilience across the Pacific region by advancing parametric insurance models ... Read the full article
Otonomi, Tag-N-Trac & Solent Freight Services launch parametric cargo coverage
9th October 2026
Otonomi Insurance Services LLC, a licensed managing general agent, Tag-N-Trac, and Solent Freight Services have together launched a parametric cargo protection programme, TRACinSURED, to cover perishable cargo. The solution combines Tag-N-Trac's AI-powered, infrastructure-independent real-time data, Otonomi's delay and visibility data, and Solent's air freight network, so covered events can be verified ... Read the full article
Igloo and DANA launch parametric rain protection insurance for Indonesians
8th October 2026
Igloo, Southeast Asia's full-stack insurtech company building the operating system for insurance, has partnered with DANA, an Indonesian e-wallet platform, to launch DANA Rain Protection, a parametric weather insurance coverage which will automatically compensate users with IDR 50,000 when triggered. The parametric product is triggered when rainfall at the user's location ... Read the full article
Global Parametrics reports $400,000 in drought-related payouts in Pakistan and Ethiopia
25th September 2026
Global Parametrics, a financial risk management company specialising in parametric solutions for natural disaster and climate-related risks, has reported that USD 400,000 in payouts has been triggered through the Natural Disaster Fund (NDF) to support communities affected by drought in Pakistan and Ethiopia. The payouts form part of a multi-country drought ... Read the full article
Solomon Islands receives $2m from PCRIC as excess rainfall triggers parametric policy
21st September 2026
The Pacific Catastrophe Risk Insurance Company (PCRIC), a donor-funded entity established to provide Pacific Island nations with access to disaster risk insurance and related services, has paid USD 2 million to the Solomon Islands, after the government’s Excess Rainfall (XSR) parametric insurance policy was triggered by rainfall events during early ... Read the full article
Parametric insurance becoming a key tool to manage risk as temperatures rise: Swiss Re
14th September 2026
As global temperatures continue to rise, insurance is increasingly emerging as a critical tool for mitigating the financial strain caused by extreme heat, according to Swiss Re’s Rethinking resilience in the face of extreme heat report. In combination with adaptation measures, insurance transfers risk while delivering valuable financial signals about the ... Read the full article
SEADRIF delivers $2.28m in parametric payouts to Lao PDR & WFP as flood impacts grow
10th September 2026
As Lao People's Democratic Republic (PDR) flood impacts grow, the Southeast Asia Disaster Risk Insurance Facility (SEADRIF) has released an additional US$1,137,500 payout to the country’s government and the United Nations World Food Programme (WFP) under parametric policies. Disbursed within two business days of receiving updated impact data regarding escalating flooding ... Read the full article
Howden Re expands alternative risk offering with new international practice
6th September 2026
Howden Re, the reinsurance, capital markets and strategic advisory business of global insurance intermediary Howden, has established a new International Alternative Solutions practice to help clients develop alternative approaches to managing risk and accessing capital. The new practice, led by Alexander Roth, will bring together specialists from across risk transfer, analytics ... Read the full article
Descartes and Generali renew strategic parametric partnership
3rd September 2026
Descartes Underwriting, a global provider of parametric re/insurance solutions for climate and emerging risks, and Generali Global Corporate & Commercial (GC&C), the business unit of Generali Group that provides insurance solutions and services to medium-large companies, have renewed their long-term strategic partnership. Building on their collaboration, which began in 2019, the ... Read the full article
SEADRIF delivers $1.14m payout to Lao PDR and WFP following heavy rainfall and severe flooding
2nd September 2026
The SEADRIF Insurance Company has made payouts totalling US$1,137,500 to the Government of Lao PDR and the United Nations World Food Programme (WFP), following severe flooding that triggered both the country’s two-year parametric sovereign policy and WFP’s disaster resilience policy. The funding was triggered after intense southwest monsoon activity and low-pressure ... Read the full article
Hurricane Lala triggers The Nature Conservancy’s US coral reef insurance policy for first time
24th August 2026
The Nature Conservancy’s (TNC) Hawaiʻi coral reef insurance policy will pay for damage assessment and reef repairs for the first time since it purchased the US’s first such policy four years ago, following Hurricane Lala’s impacts this weekend, which brought dangerous flooding, strong winds and widespread power outages across the ... Read the full article
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