PARAMETRICS NOT USED IN FLOOD RISK FINANCING OR CAPTIVES: AIRMIC MEMBERS

Ninety-three percent of respondents in this week’s Airmic Big Question said parametric insurance did not form a part of their flood risk financing programme, with the remaining respondents saying it potentially could for their organisation.

Every year, floods destroy assets worth billions of dollars. In the last five years, losses from flooding worldwide amounted to US$320bn, of which roughly US$56bn was insured. From a long-term perspective, only storms cause greater economic losses worldwide than floods.

Parametric triggers were not used in captives either, where the organisations of respondents used them.

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We will be sharing the results of the Airmic Big Question with the press weekly.

You can also find the results here.

Media contact: Leigh Anne Slade
Head of Media, Communications and Interest Groups, Airmic
Leigh-Anne.Slade@Airmic.com
07956 41 78 77