WTW

WTW confirms PCRIC renewal and updated triggers

WTW has confirmed the renewal of the Pacific Catastrophe Risk Insurance Company’s portfolio of policies for six governments and affiliated entities across the region.

Alternative risk transfer rates flat in North America: WTW

Rates for parametric and other lines of alternative risk transfer in North America are expected to be flat as demand remains high, according to WTW.

WTW mulls parametric insurance product for coral reef bleaching

WTW is exploring an expansion of its parametric insurance suite to provide cover for coral bleaching events, which cause significant ecosystem degradation and negatively impact marine biodiversity, food security and livelihoods.

WTW’s Simmons: extending the value of (re)insurance to reduce vulnerability

WTW’s disaster risk finance and parametrics team has a pipeline of more than 50 projects focused around environmental restoration and humanitarian efforts, in a bid to extend the value of reinsurance beyond a financial instrument, managing director David Simmons has said.

PCRIC and WTW launch parametric quake cover for Papua New Guinea telecommunications network

The Pacific Catastrophe Risk Insurance Company (PCRIC), a regional parametric risk pool, has signed a n earthquake insurance policy for Papua New Guinea state-owned telecommunications infrastructure company PNG DataCo.

WTW secures USAID funding for “Resilience Wrapper” parametric pilot

WTW is to design a “Resilience Wrapper” pilot facility that will enable the US Development Finance Corporation to offer a parametric cover that protects the direct loans it provides to private enterprises from climate-related shocks.

WTW expands coverage area for Hawai'i coral reef policy, doubles minimum payout

WTW has upgraded its coral reef insurance policy with the Nature Conservancy to expand coverage to a larger area around the main Hawaiian islands, with the minimum payout doubling to $200,000.

WTW places Lau Islands reef parametric policy through PCRIC

WTW has placed a parametric insurance policy with the Pacific Catastrophe Risk Insurance Company designed to protect the coral reef systems of the South Pacific Ocean’s volcano-formed Lau island group.

WTW’s Young targets further parametric launches as momentum builds

Momentum is continuing to build around the development of parametric covers for climate-related risks with several projects currently underway, according to WTW’s Simon Young.

WTW and Hannover Re complete two-year IDF climate resilience project

The Insurance Development Forum has concluded its two-year project to improve the climate resilience of Medellín, Colombia, which saw WTW and Hannover Re collaborate to introduce a parametric insurance product for vulnerable communities.

WTW launches parametric solution to bolster Asian food security

WTW has launched a four-peril parametric insurance product to foster aquaculture development and address food security concerns in Asia by protecting Sri Lankan shrimp farms against weather risks.