Several dynamic changes in today’s insurance environment have made risks unpredictable, rendering them difficult to model and tricky to determine accurate return periods. These changes have led to certain lapses in coverage, creating a growing need for innovative solutions. In response, parametric insurance has emerged as an effective risk mitigating solution that offers certainty and protection for these gaps.
New Dawn Risk’s latest whitepaper, Parametric insurance: The scope of solutions for agriculture and natural catastrophe risks, launches today, and walks through the trends, triggers and unique solutions associated with this non-traditional insurance product.
Aditya Singh, Head of Treaty at New Dawn Risk, commented: “Many global providers prefer parametric insurance, as it does not require them to understand the complexities of the inherent risks vis-à-vis the assets they invest in. This whitepaper discusses the fundamental ability of parametric insurance to cover products ranging from complex agricultural risks to property damage arising out of large natural catastrophe events.”
Max Carter, CEO of New Dawn Risk, added: “Ultimately, parametric insurance can provide an affordable solution for large-scale insurance of catastrophic risks in exposed areas, and we expect this to become more widely adopted over the next several years.”
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