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.
Grenada renews CCRIF SPC parametric insurance policies for 25/26
25th June 2025
The Government of Grenada has confirmed the renewal of the country's annual parametric insurance coverage with the Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Company (CCRIF SPC) for 2025/2026, for a total cost of roughly USD 1.828 million, plus applicable fees. This renewal ensures the Caribbean country remains protected under the ... Read the full article
Lockton and Parametrix to launch SLA insurance for data centre market
25th June 2025
Lockton, a privately held insurance brokerage, has partnered with Parametrix, a provider of digital business interruption risk solutions, to launch Service Level Agreement (SLA) breach coverage to the data centre market. The pair explained that the coverage delivers immediate financial compensation in the event of an SLA breach, based on predefined ... Read the full article
Drought triggers £261K parametric payout for Pakistan’s chilli farmers
24th June 2025
A severe drought in Pakistan has triggered a £261,243 parametric insurance payout to Tearfund, directly supporting chilli farmers in the southern region of the country. The payout was triggered by a severe period of hot and dry weather resulting in reduced soil moisture in parts of the country. This innovative parametric product ... Read the full article
Aon receives approval for updated Florida hurricane catastrophe model
19th June 2025
Aon, a global insurance and reinsurance broking group, has received certification for its updated Florida hurricane model from the Florida Commission on Hurricane Loss Projection Methodology (FCHLPM) for ratemaking in the state. The updated model is developed by Aon’s Impact Forecasting team and incorporates the latest research and technology, which aims ... Read the full article
Beazley appoints Stefan Wunderlich as Head of Parametric Insurance
10th June 2025
Specialist insurer Beazley has announced the appointment of Stefan Wunderlich as Head of Parametric Insurance, effective 10th June 2025. Based in Zurich, Switzerland, Wunderlich will report to Richard Montminy, Group Head of Property Risks at Beazley. Wunderlich brings 20 years of experience from Swiss Re, where he specialised in modelling and underwriting ... Read the full article
Increasing severe weather spurs demand for parametric insurance: Swiss Re Corporate Solutions’ Megan Linkin
9th June 2025
In a Reinsurance News interview, Megan Linkin, Expert Structurer at Swiss Re Corporate Solutions, the global reinsurer's commercial insurance arm, discussed the growing demand for parametric insurance amid an uptick in severe weather events and subsequent losses. The surge in interest, she says, is tied directly to the increasing frequency and ... Read the full article
Blink Parametric names Brian Barter as Chief Executive Officer
6th June 2025
Insurtech Blink Parametric has announced the appointment of Brian Barter as Chief Executive Officer with immediate effect, succeeding Sid Mouncey, who will remain with the company as Chief Commercial Officer. In his new role, Barter has been tasked with accelerating Blink’s strategy to drive the company’s growth. This move underscores the ... Read the full article
Howden appoints Peter Steiner as Executive Director Agriculture & Nature Parametrics
4th June 2025
Global insurance and reinsurance broker Howden has appointed Peter Steiner as Executive Director, Agriculture & Nature Parametrics. Steiner joins Howden after nine years at Syngenta, where he began in May 2016 as Global Financial Solutions Manager. He is the owner and creator of AgriClime Risk Management and the AgriClime finance/credit systems, and ... Read the full article
Global Parametrics and One Acre Fund deliver parametric crop cover for Nigerian farmers
3rd June 2025
Global Parametrics, part of the CelsiusPro Group, has partnered with One Acre Fund to provide financial protection for smallholder farmers in Nigeria against crop losses caused by drought and end-of-season excess moisture, through the Natural Disaster Fund (NDF). The cover is structured using Global Parametrics’ Water Balance Index (WBI), which leverages ... Read the full article
LM Re launches parametric agriculture product for Colombian farmers
19th May 2025
Liberty Mutual Reinsurance (LM Re), the reinsurance arm of Liberty Mutual Insurance Group, has partnered with XS Latam and SFA CEBAR to launch a parametric agriculture product designed to financially protect Colombian farmers against adverse climatic conditions. The product leverages the expertise of Floodbase and EarthDaily—a parametric flood platform providing advanced ... Read the full article
IDF to offer free modelling tools suit for climate & disaster risk analysis
28th April 2025
The Insurance Development Forum (IDF) Risk Modelling Steering Group (RMSG) has launched a new IDF web page that houses a suite of free, open access risk modelling tools for climate and disaster risk analysis. IDF stated: “Designed to advance climate and disaster risk understanding and quantification of disaster risk globally, open ... Read the full article
Floodbase and Yokahu introduce parametric flood insurance to support New Orleans businesses
25th April 2025
Floodbase, a platform focused on insuring flood risks beyond traditional coverage, has partnered with insurance intermediary Yokahu to introduce automated parametric flood insurance in New Orleans. The initiative aims to provide faster, more flexible financial protection for businesses impacted by regional flood events. In contrast to the National Flood Insurance Program (NFIP)—which ... Read the full article
Global Parametrics becomes coverholder to Canopius Lloyd’s Syndicate 4444
23rd April 2025
Global Parametrics, part of the CelsiusPro Group, and Canopius, an international specialty lines and P&C re/insurer, have announced the signing of a Lloyd’s syndicate coverholder partnership. Under this collaboration, Global Parametric becomes coverholder to Canopius Lloyd’s Syndicate 4444 - one of the largest in the Lloyd's of London marketplace - and ... Read the full article
Parametric risk pools secure €4.7m grant to enhance climate resilience collaboration
16th April 2025
Four Regional Risk Pools have signed a joint grant agreement with the Global Shield Solutions Platform (GSSP) for €4.7 million to put shared commitments into action. Signed by the African Risk Capacity Limited (ARC Ltd.), CCRIF SPC (the Catastrophe Risk Insurance Facility of the Caribbean and Central America), the Pacific Catastrophe ... Read the full article
Brenden Beeg joins Amwins as VP for Alternative Risk
14th April 2025
Brenden Beeg has joined Amwins, a distributor of specialty insurance products and services, as Vice President - Alternative Risk. In his new role, he will be working alongside Alex Kaplan, Amwins’s Executive Vice President for Alternative Risk, and Taylor Kwong-Wright, who serves as Associate Broker, Alternative Risk. Beeg is joining Amwins from ... Read the full article
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