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.
One in 10 large European companies mentioned extreme heat on earnings calls - and most of those losses aren't insured
The French power grid has just taken a jellyfish hit. The British one will have its own problems today. Is this going to become par for the course?
It’s probably time to have wildfire discussions with your clients
Experts say the country still lacks the modelling and risk assessment needed as wildfire exposure grows
As climate, cyber and emerging risks grow more complex, organisations are finding conventional policies fall short
