Best's Review Looks at Growing Popularity of Parametric Insurance Contracts

OLDWICK, N.J.--(BUSINESS WIRE)-- In a recent article, Best’s Review examines the use of parametric insurance to provide coverage for previously less-insurable risks. Originally gaining traction in developing nations to protect against natural disasters and weather risks, parametric contracts are finding greater acceptance in a broader range of insurance markets, including cybersecurity. These contracts can cover risks in areas where traditional indemnity coverage is difficult to obtain, and their clearly defined triggers can lead to faster payments to insureds. Read the full story in “Parametric Insurance Contracts May Apply to Tougher Risks.”

Best’s Review is AM Best’s monthly insurance magazine, covering emerging issues and trends and evaluating their impact on the marketplace. The complete content of Best’s Review is available here.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2024 by A.M. Best Company, Inc. and/or its affiliates.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20240415561393/en/

Patricia Vowinkel
Executive Editor, Best’s Review®
+1 908 882 1771
[email protected]

Source: AM Best

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