Global Parametrics, a provider of parametric protection against climate risks and natural disasters, has led the renewal of the $1.9 million Mexican Reef Protection Programme, alongside Grupo Financiero Banorte and Hannover Re.
RYSKEX has been named as the winner of the Lloyd’s Lab Fusion event, designed to test early-stage start-up ideas aimed at dealing with COVID-19 and other systemic risks.
The Willis pension scheme has executed a longevity swap through its Guernsey-based captive.
Guernsey’s insurance industry is developing a green kitemark for its insurance-linked securities (ILS) platforms, to promote environmental, social and governance (ESG) issues.
A group of insurance industry executives has joined together to form Ten C’s, a startup that will develop parametric insurance for business interruptions and event cancellations due to pandemics and other systemic risks.
Regulation is important to Gemini Trust Company, the cryptocurrency exchange and custodian that launched a captive insurance company, Nakamoto, in January.
While a growing number of companies are using their captives to transfer cyber risk, some of the most innovative are also exploring the possibility of insuring reputational risk, according to Jason Flaxbeard, executive managing director, captive management and consulting, Beecher Carlson.
The first captive to manage risk associated with crypto currencies has been formed on Bermuda. The vehicle has been formed by a large financial institution to take on the risk of digital assets that it stores on behalf of third parties being stolen.
This week Vermont passed legislation that creates a regulatory sandbox for the development of a new generation of innovative insurance products, services and technologies.