Parametric Insurance has become a popular and handy tool for clients with natural catastrophic exposures (i.e. hurricane, earthquake) as a method of indemnity based on quantitative data recording for coverage triggering instead of incurring a direct physical loss.
As the coverage name implies, “parameters” are previousy defined in the insurance coverage that will allow your Company to receive the sum insured once the threeshold parameters are surpassed.
A certified Company will provide parameter lectures in previously acknowledged coordinates that will provide proof for coverage activation.
Parametric Insurance is “complementary” to direct physical loss and traditional insurance and will not, in our views, replace or substitute property insurance but rather complement it.
