Reinsurance News
Parametrix Insurance
Parametrix places $35m cloud outage cat bond for Hannover Re
8th April 2026
Parametrix, a provider of cloud monitoring, modelling and insurance services, has placed its third and largest cloud outage catastrophe bond, Cumulus Re III, attracting a greater number of investors than its predecessors and providing sponsor Hannover Re with $35 million of retrocessional protection for 2026–27. The parametric bond, first reported ... Read the full article
Critical cloud outage risk remains significant despite decline in occurrence: Parametrix
7th April 2026
Parametrix, a provider of digital business interruption solutions, disclosed in a new whitepaper that although critical cloud service outages declined in 2025 after several years of sustained increases, the risk remains significant. According to the firm's Cloud Outage Risk Report 2025, after reaching a peak of 244.8 hours in 2024, the ... Read the full article
Parametrix strengthens cyber & digital infrastructure solutions with three new hires
10th February 2026
Parametrix, a provider of digital business interruption solutions, has announced the hire of three specialists that will support the accelerating demand for its cyber, contingent business interruption, and data centre insurance solutions. Due to high demand for new ways to manage cyber, technology downtime, and Service Level Agreement (SLA) exposure, Parametrix’s ... Read the full article
Parametrix raises $27m in funding round and rolls out new cyber insurance product
9th December 2025
Parametrix, a provider of digital business interruption solutions, has completed a $27 million Series B funding round led by Mundi Ventures, FirstMark Capital, and HDI Group, joined by F2 Venture Capital and several other strategic investors. The round brings total Parametrix funding to $45 million and follows 300% top-line growth in ... Read the full article
Parametrix provides rapid claims payments following AWS outage
3rd December 2025
Parametrix, a provider of digital business interruption solutions, has revealed that it has already paid claims to clients affected by the Amazon Web Services (AWS) outage on 20th October 2025, allowing affected businesses to recover quickly. On Monday 20th October, the AWS platform experienced an outage originating in its largest cloud ... Read the full article
Swiss Re and Munich Re back newly launched CEI & Generali parametric solution
19th September 2025
Global insurer Generali and Conferenza Episcopale Italiana (CEI) have partnered to launch a new parametric insurance solution to protect parish entities in Italy's 226 dioceses from the impacts of natural catastrophes. Swiss Re and Munich Re are providing reinsurance capacity and expertise for this program, which also involves broking group Howden ... Read the full article
Perdiguerra to lead Parametrix Cyber and Tech E&O underwriting
1st August 2025
Parametrix, a provider of digital business interruption solutions, has announced the appointment of Sandy Perdiguerra as Senior Vice President, Cyber and Tech E&O Underwriting. Perdiguerra, who brings over two decades of experience in cyber underwriting and leadership, will be based in San Francisco and report directly to Rick Wong, Head of ... 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
Parametrix supports Hannover Re’s renewal of $20m Cumulus Re cloud outage cat bond
26th March 2025
Hannover Re, one of Europe's big four reinsurers, with the support of Parametrix, has secured $20 million of retrocessional protection for losses caused by a sustained cloud outage event, with this second catastrophe bond transaction 45% larger than the inaugural deal. Cumulus Re II, or Cumulus Re (Series 2025-1) as ... Read the full article
Critical cloud service outages increase in 2024: Parametrix
17th March 2025
According to Parametrix, a provider of digital business interruption risk solutions, critical cloud service disruptions among the top three public cloud providers rose by 18% in 2024, with the duration of these outages increasing by 18.7% compared to the previous year. Parametrix’s Cloud Outage Risk Report 2024 highlights the growing risks ... Read the full article
Parametrix launches new cyber insurance solution for digital interruption
7th November 2024
Parametrix has launched "Parametrix Enterprise Solutions", a new type of parametric cyber insurance that covers the costs associated with digital interruptions. Parametrix, a specialist in parametric cloud downtime cyber insurance and reinsurance protection, explained that its new enterprise coverage, underwritten by syndicates at Lloyd’s of London, features "clear and flexible" parametric ... Read the full article
CMC partners with Parametrix to assess cloud outage impacts on UK businesses
2nd October 2024
The Cyber Monitoring Centre (CMC) has partnered with Parametrix Analytics, a newly established provider of cloud risk analytics services, to examine cloud exposure and the effects of cloud outages on UK organisations. An initial project is underway to assess how dependent UK organisations are on cloud infrastructure. This project examines ... Read the full article
Geographical diversification key to reducing portfolio risk of cloud outage events: Aon, Parametrix
30th August 2024
Geographical diversification is key to reducing the portfolio risk of systemic cloud outage events, according to a joint report from global insurance and reinsurance broker Aon and Parametrix, a cloud monitoring, modelling, and insurance services provider. Aon and Parametrix's report emphasised that the July 2024 CrowdStrike Falcon/Microsoft Windows outage served as ... Read the full article
Carriers exposed to large enterprises most likely to face losses from IT outage: Parametrix CEO
24th July 2024
Insurance carriers that have greater exposure to large enterprises are more likely to face the brunt of the losses stemming from the CrowdStrike linked IT outage, says Parametrix Insurance CEO, Jonathan Hatzor. According to the organisation, the event is expected to withdraw an insured loss range of $540 million to ... Read the full article
CrowdStrike outage insured losses to range from $540m to $1.08bn, says Parametrix
24th July 2024
The CrowdStrike linked IT global outage is estimated to have an insured loss range of $540 million to $1.08 billion, according to Parametrix, a provider of cloud monitoring, modeling, and insurance services. For those who need a reminder, the outage, which took place on July 19, was caused by a security ... Read the full article
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