Parametric
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The offering uses highest wind speeds at set locations as triggers for payouts.
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InsurTech Skyline Partners’ parametric platform will inform insureds of a relevant incident within 48 hours.
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The MGA has already expanded into markets including energy, liability and construction since its launch.
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Scor is to invest EUR15mn as a cornerstone investor of the blank cheque vehicle, which will float in Milan. -
Paul Prendergast and Peter Bermingham founded the business in 2016 and will stand aside for managers at owner CPP Group.
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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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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 backstop vehicle expands its offer beyond the 22 Caribbean and Central American states it currently services.
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The policy pays out automatically once a company’s IT services are disrupted.
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The product features fixed payment for a terrorism event within the insured’s post code, irrespective of physical damage.
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The product is led by Tokio Marine, with following members including Chaucer, Munich Re Syndicate, Beazley, Faraday and Axis.
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