Tuvalu’s new parametric insurance plan pays out to 409 households
TUVALU has made its first payout under the High Tide Parametric Insurance Product, disbursing $AUD30,675 to 409 households after three March high-tide events triggered the policy’s lowest threshold.
PARAMETRIC INSURANCE – Addressing the Financial Impact of Disasters
The Pacific Catastrophe Risk Insurance Company (PCRIC) is a special-purpose disaster risk insurer created to provide a pathway for nations in the Pacific Islands region to secure financial solutions to the costly impact
Parametric Insurance: A door of opportunity?
Less than a fornight after an earthquake devastated Port Vila on December 17, the Chief Executive Officer of the Pacific Catastrophe Risk Insurance Company (PCRIC) was on a plane to the Vanuatu capital, a US$1.2 million
Parametric insurance industry off to a rough start in Vanuatu
Two insurance companies have exited Vanuatu, impacting beneficiaries and the burgeoning parametric insurance industry. Noeline W. Viro of the Insurance Supervision Unit of the Reserve Bank of Vanuatu, says that while
