Hurricane risk differs in Canada, which is why parametric insurance triggers that work in the U.S. may not be as effective in Canada, said a panellist in a Canadian Underwriter webinar. Barometric pressure may be a better parametric trigger…
Parametric insurance is a relatively new product in Canada, and thus is not a big buy for commercial clients, but as climate change is expected to cause more hurricane events in Canada, expect this solution to get more popular north…
Natural catastrophes can affect businesses of any size, and parametric insurance can provide solutions for small accounts, too — not just large ones, panellists said at a Canadian Underwriter webinar on Wednesday. Parametric insurance is a type of index-based insurance…
Advising clients of parametric options will allow brokers and insurers to enhance their value and open up opportunities to provide more options for risk transfer and solutions to coverage issues that couldn’t be solved under traditional measures, says an insurer…
Parametric insurance can help fill a gap in some policies by covering non-damage business interruption, a speaker said Tuesday at AXA XL’s Fast Forward LIVE event in downtown Toronto. Caused by a variety of factors, including severe weather conditions, non-damage…
Speed is one of the main benefits of parametric insurance compared to traditional forms of insurance, with the underwriting process taking just several days to two weeks, speakers from AXA Global Parametrics in France said Tuesday. Parametrics is index-based insurance,…
A reinsurance program can help mutual insurers free up funds that can be spent elsewhere, while index-based insurance can help provide coverage for business interruption not caused by property damage – such as software and electrical power failures – Swiss…