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Application of parametric insurance in principle-compliant and innovative ways
Recurso electrónico / Electronic resource
Section: Articles
Title: Application of parametric insurance in principle-compliant and innovative ways / Xiao Lin, W. Jean KwonAuthor: Lin, Xiao ‌
Notes: Sumario: There has been a rise of innovative parametric insurance solutions in recent years covering a wide range of risks and serving clients from individuals, to businesses, and to governments. These parametric insurance products cover risks that are otherwise uninsured or underinsured, by simplifying product design and reducing transaction costs. This paper offers a comprehensive review of parametric insurance including a classification of the types of contract and an overview of market practices. We outline the benefits and concerns of parametric insurance in comparison with indemnity insurance, and discuss the legal principle and regulatory compliance matters. We then survey the current global market and identify areas where insurance and reinsurance companies can play important roles in offering or supporting parametric insurance operations. Lastly, we offer a case study on a type of parametric insurance designed to cover earthquake risk in California.Related records: En: Risk management & insurance review. - Malden, MA : The American Risk and Insurance Association by Blackwell Publishing, 1999- = ISSN 1098-1616. - 24/06/2020 Tomo 23 Número 2 - 2020 , p. 128-150Materia / lugar / evento: Seguros paramétricos ‌Mercado de seguros ‌Productos de seguros ‌Empresas de seguros ‌Riesgos extraordinarios ‌Terremotos ‌Otros autores: Jean Kwon, W. ‌
Other categories: 328
Rights: In Copyright (InC)
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