Parametric solutions are gaining in popularity, especially for businesses in the crosshairs of natural catastrophe risk.
The traditional insurance model insures against specific losses, but in recent years, another model, parametric insurance, has been picking up steam.
“Parametric insurance, sometimes also referred to as index-based insurance, is an insurance product that offers a predefined payout based on a triggering event,” said Daniel Vetter, head of North America for Descartes Insurance Solutions Agency, Inc.
FULL ORIGINAL PUBLICATION HERE
