Flood

Amwins and Floodbase launch parametric flood insurance program for California municipalities

Broker Amwins and parametric flood data company Floodbase have announced a flood insurance program for California’s public sector, with some policies already bound.

Seadrif pays $3mn total to Lao PDR after Yagi flooding triggers second payout

Lao PDR has received two parametric payouts after its insurance policy with regional risk pool Seadrif was triggered by flooding following Typhoon Yagi.

Helene flooding triggers FloodFlash parametric policies

Parametric flood MGA FloodFlash is processing claims from Hurricane Helene after it made landfall in Florida last Friday, Parametric Insurer can reveal.

FloodFlash starts paying claims as heavy rain batters UK

Parametric flood MGA FloodFlash has started paying claims for UK clients after flood depths at companies’ buildings exceeded trigger levels.

Senegal to implement parametric drought and flood protection with Gallagher Re

Gallagher Re is working with Senegal’s Public Solidarity Fund (FSN) to provide parametric protection for vulnerable populations against droughts and floods, with the coverage expected to be placed by May 2025.

Typhoon Yagi flooding triggers $750k Seadrif payout to Lao PDR

Lao PDR’s semi-parametric insurance policy with regional risk pool Seadrif has been triggered by flooding following Typhoon Yagi, with an initial payout of $750,000.

Myanmar farmers to receive $5.8mn in crop insurance payouts after flooding

Heavy rainfall during Myanmar’s monsoon season has triggered parametric payouts totalling MMK12.265bn ($5.8mn) to farmers.

Amwins launches parametric flood program for golf courses with Floodbase partnership

Broker Amwins has partnered with parametric flood data company Floodbase to launch a parametric program to protect US golf courses against flood losses.

Floodbase to provide US insurers with data Fema uses to estimate flood impact

Floodbase has launched a flood extent data product to help insurers, corporations and the public sector respond to flooding events in the US.

Guy Carpenter launches global parametric flood (re)insurance cover

Guy Carpenter is rolling out FloodShield, a parametric flood solution for large portfolios covering vast areas.

FloodFlash expands parametric flood product across US mainland

Parametric MGA FloodFlash has extended its product offering to cover the entire US mainland after expanding its binder with Munich Re Specialty’s syndicate.

Parametric solutions can help manage severe convective storm risk

Rich Coyle, US commercial director at FloodFlash, looks at how insurers and brokers can best manage severe convective storm risk and increase their clients’ resilience to future events.

Floodbase announces Mozambique and Malawi for parametric flood program pilot

Flood risk data provider Floodbase has unveiled Mozambique and Malawi as the pilot locations for its parametric flood insurance program in partnership with African Risk Capacity Limited and Global Parametrics.

WRMS partners with digital microinsurer MIC Global on parametric flood policy

Agritech and climate risk management firm Weather Risk Management Services has partnered with digital microinsurance provider MIC Global to deliver flood resilience cover to merchants and gig workers in India.

Laos renews parametric flood cover with Seadrif

Laos has renewed its parametric flood insurance with the regional Southeast Asia Disaster Risk Insurance Facility.

FloodFlash expands to 10 more US states, brings total to 15

Parametric insurtech FloodFlash has expanded into a further 10 US states, with minimum premiums for risks outside of the 15 states in which it operates reduced to $25,000.

Parametric insurtech FloodFlash says UK floods have triggered payouts

Parametric insurtech FloodFlash has reported that its sensors have been triggered by the recent flooding in the UK

Ag Guard and Floodbase partner on flood parametric programs in ANZ

BP Marsh-backed crop and farm underwriting agency Ag Guard has partnered with flood risk data provider Floodbase to develop and distribute parametric flood insurance programs across Australia and New Zealand.

ARC partners with Floodbase to scale flood parametric insurance across Africa

Flood risk data provider Floodbase has partnered with African Risk Capacity to develop, distribute and scale parametric flood insurance solutions across the African continent.

FloodFlash adds Hiscox to panel of US capacity providers

Parametric insurtech FloodFlash has added Hiscox to its roster of US capacity providers with the London-listed carrier boosting its own existing capabilities in the expansive sector through the tie-up.