By Lewis Nibbelin, Contributing Writer, Triple-I Heading into 2025, countless communities are still grappling with the $27 billion natural disasters that impacted the United States last year – a total driven by costly storms and severe inland flooding. Many affected residents lacked flood coverage and will rely almost exclusively on federal relief funding to recover, … Read more
Re/insurance broking giant Aon has announced the launch of a new parametric insurance solution that is designed to address and mitigate losses from hurricane-related storm surge along the coast of the United States, developed in partnership with Floodbase, a specialist in parametric flood risk, and global commercial insurer, Swiss Re Corporate Solutions.A key aspect of … Read more
Reinsurance broker Guy Carpenter has begun a research project into the use of reciprocal exchanges for delivering parametric catastrophe insurance solutions, to identify whether the structure is a viable one for community-based coverage initiatives.The brokers’ Parametric Advisory and Public Sector teams will explore the use of parametric insurance solutions to help protect communities across California … Read more
Lockton Re, the independent reinsurance broker is working with risk modelling and data analytics specialist Verisk to develop new index and parametric triggered risk transfer solutions for climate and weather effects on agriculture.Lockton Re will use Verisk’s agricultural risk modeling solutions, including the firm’s Multiple Peril Crop Insurance (MPCI) and Crop Hail Model for the … Read more
Everest Re, the reinsurance underwriting arm of global re/insurer Everest, has announced the promotion of Emily Davis, who has been appointed as the Head of Global Specialties, a role that will see her with responsibility for parametric reinsurance solutions.In her new role, Davis will report to Jill Beggs, Reinsurance Executive Vice President and Chief Operating … Read more
