Parametric insurance pays out based on a predefined index or trigger—such as rainfall, wind speed, or earthquake magnitude—rather than on assessed loss, and is gaining traction in the UK as part of climate resilience and catastrophe solutions. Insurers, reinsurers, and MGAs are developing parametric products for sectors like agriculture, renewable energy, and event cancellation, but must carefully design triggers, manage basis risk, and clearly explain mechanisms to brokers, corporates, and public‑sector buyers.
As climate, cyber and emerging risks grow more complex, organisations are finding conventional policies fall short
When 22 industry delegates were asked what "back to basics" meant, they returned to people, discipline and delivery rather than technology
The parametric specialist is now writing risks its existing carriers could not reach, and Lloyd's climate risk appetite is why
Europe's rapid shift from cold weather to deadly heat is raising new questions about how insurers model emerging climate risks
Policy is bringing protection to venues long deemed uninsurable, starting with one site on the River Thames
