Parametric
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ICEYE’s fleet of satellites will offer data insights into areas where coverage is impeded by data limitations. -
The broker expects ongoing single-digit growth within the ILS market.
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The offering uses highest wind speeds at set locations as triggers for payouts.
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Interest in parametric coverages has increased among insurance buyers as a response to coverage gaps exposed by unanticipated losses and tightening traditional market capacity.
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The product leverages real-time GeoNet data to automatically pay customers within five days following a strong earthquake.
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Abu Dhabi sovereign wealth-backed Mubadala becomes an Arbol investor.
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The emerging markets specialist aims to raise around $860mn of additional funds by 2025.
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The busy storm season, Covid-19 uncertainty and a hardening market are driving demand.
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The InsurTech firm will provide parametric quake insurance to Quickbooks clients in California.
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The backstop vehicle expands its offer beyond the 22 Caribbean and Central American states it currently services.
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The company acts as reinsurer and shares the risk with the Natural Disaster Fund.
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The developing world specialist insurer is looking for input from ILS funds and reinsurers.
