Webinar: Parametric Insurance - is it the answer?

Session Summary:
Currently, UK insurance is predicated on the basis of Damage at the Premises, with various extensions expanding that (think Mr Potato Head with eyes, arms etc plugged into it)

Whether this model remains optimal is a moot point, and he fact that the scope of cover is widely misunderstood has been brought into sharp focus by the Covid 19 pandemic.

Parametric cover offers a partial alternative solution, with the trigger for cover constituting anything agreed by the parties – drop off of footfall, depth of flooding, issue of regulatory restrictions are examples. The trigger can lead to a pre agreed payment or an indemnity cover.

Is this a new concept, and will it replace or complement existing cover? Will the pandemic increase adoption of it?

Learning objectives:
At the end of this 45-minute presentation, delegates will be able to demonstrate an understanding of:

• What parametric insurance is

• What the challenges are that existing covers present

• The extent to which parametric cover will solve those

Please note this session is for CII/PFS members only, with preference given to members of Birmingham Insurance Institute.