Parametric

Vortex launches supplemental hurricane parametric product with Mitsui capacity

Parametric weather coverage specialist Vortex Insurance has unveiled a new supplemental hurricane coverage for the Atlantic coastline from Texas to Maine that is underwritten on the paper of Mitsui Sumitomo Insurance USA.

New Paradigm unveils Lloyd’s-backed parametric terrorism product

Parametric insurtech New Paradigm Underwriters has brought a terrorism product to market supported by capacity from Aegis and Talbot Underwriting which has already gained traction with clients including music venues, hotels and retail operations, Program Manager can reveal.

Blink enters US market through AwayCare partnership

Insurtech Blink Parametric has extended its parametric insurance offering to the US market through an expanded partnership with MGA AwayCare.

Intangic MGA’s Dodd: Shifting cyber focus to attritional can help fill coverage gap

Intangic MGA founder and CEO Ryan Dodd believes the decision to view cyber from a different perspective has enabled the newly launched firm to create a product that complements the existing market offering.

Intangic MGA launches Axa XL-backed parametric cyber cover for UK public corporations

Axa XL has provided capacity for a new London-based MGA which has launched a parametric cyber cover designed for large public corporations headquartered in the UK.

New Paradigm’s Groenheide set to launch embedded parametric technical MGU

New Paradigm Underwriters and its director of specialty insurance programs Mark Groenheide are in the market securing reinsurance for the launch of a new technical MGU called Conductive Underwriters, which will provide all-risk coverage including embedded parametric insurance, Program Manager can reveal.

MGA Parametrix explores ILS “cloud-in-a-box” transaction for cloud outage risk

Cloud outage is the next cyber risk class ripe for ILS risk transfer as ceding (re)insurers seek protection from exposures to major sustained outages, according to cyber MGA Parametrix.

Parametric insurtech Arbol hires Ibarra to lead LatAm growth drive

Climate-focused parametric insurtech Arbol is eyeing opportunities in the Latin American market and has recruited former Global Parametrics CEO and ex-PartnerRe ILS specialist Hector Ibarra to spearhead its targeted expansion in the region.

New Paradigm co-founder Glassman exits parametric MGA

New Paradigm co-founder Evan Glassman has left the parametric MGA and no longer serves as a director of the company or is involved in its operations, the company announced on Friday.

K2 and Homesite partner on parametric nat cat coverage

K2 Parametric Insurance Services has agreed a capacity relationship with Homesite Underwriting Managers to offer commercial parametric natural catastrophe policies for US earthquake and hurricane risks with limits up to $10mn per policy.

FloodFlash gets Munich Re support in $15mn Series A and targets global growth

FloodFlash has secured $15mn of funding in a Series A round that included support from Munich Re Ventures and MS&AD Ventures, with the parametric-focused insurtech MGA expected to use the investment for its international growth plans.

Descartes and ICEYE partner on parametric flood risk solution

French climate risk insurtech Descartes Underwriting has partnered with Lloyd’s Lab participant ICEYE to develop a parametric insurance product for flood.