CelsiusPro

🌡️ Extreme hot or cold weather can lead to business interruptions and losses that pile up quickly. Our Parametric Temperature Insurance offers prompt relief when every degree counts. Download the brochure! 👉 https://lnkd.in/eAXQuYxj Our Parametric Temperature Insurance addresses urgent cash needs when weather, hot or cold, deviates from pre-agreed threshold levels, generating losses in agriculture, construction, and other sectors. Unlike traditional indemnity insurance products, Parametric Temperature Insurance doesn't require a lengthy assessment of losses; instead, it ensures swift payouts. Contact Arijana Antunovic, Nick Pewter, or Joel Durand for more information. a.antunovic@globalparametrics.com nick.pewter@celsiuspro.com joel.durand@celsiuspro.com

💵 NDF payouts aid Tobago, Grenada, Saint Vincent, and Trinidad The Natural Disaster Fund (NDF), managed by Global Parametrics (a CelsiusPro Group company), has provided risk capacity to support the renewal of a multi-peril, multi-layer programme of CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility). Hurricane Beryl caused widespread damage across the Caribbean. Within weeks, the NDF released payouts exceeding USD 1.98 million to support businesses and communities in Tobago, Grenada, Saint Vincent, and Trinidad. The renewal timely secured lines of reinsurance capacity for parametric risk transfer against earthquake, hurricane, excess rainfall, and public utilities catastrophe coverage that Central America and Caribbean governments members of CCRIF SPC purchase for the 2024 annual placement. 🤝 The NDF, a public-private partnership funded by UK and German entities, aims to foster climate and NatCat resilience for poor and vulnerable communities, sharing risks with Hannover Re. The NDF has supported the CCRIF SPC program since 2021, renewing its participation annually. CCRIF SPC is the world's first regional fund using parametric insurance to provide short-term liquidity to Caribbean and Central American governments when a parametric insurance policy is triggered.   Foreign, Commonwealth and Development Office | KfW | Federal Ministry for Economic Cooperation and Development (BMZ) | Hannover Re

🌪️ Swift response to the effects of hurricane Beryl in Grenada The Natural Disaster Fund (NDF), managed by the Global Parametrics team (a company of the CelsiusPro Group), has provided risk capacity to Corp-EFF Insurance Company Limited to distribute the Flexible Hurricane Protection product, which offers protection against hurricanes in Dominica and Grenada. The product has been structured by Global Parametrics as a hurricane windspeed cat-in-a-polygon. Policies are sold by Corp-EFF to households, small businesses, smallholder farmers (mainly nutmeg and cacao farmers), fisherfolk, and other micro- and meso-level risk holders. In the aftermath of hurricane Beryl’s path across the Caribbean, the NDF has swiftly released payouts exceeding USD 1.45 million to enable support for businesses and communities in Grenada, in particular nutmeg and cocoa small producers who were affected when Beryl hit Grenada as a Category 4 hurricane. 🤝 The NDF is a public-private partnership funded by UK and German governmental entities. Its mandate is to provide risk capacity for parametric solutions that foster climate and NatCat resilience for poor and vulnerable communities. The NDF shares risks with Hannover Re. 🏦 Corp-EFF Insurance, a subsidiary of Corporate Enterprise Finance Facility Ltd (Corp-EFF), is dedicated to offering insurance solutions tailored to credit unions within the Organisation of Eastern Caribbean States (OECS).   Foreign, Commonwealth and Development Office | KfW | Federal Ministry for Economic Cooperation and Development (BMZ) | Hannover Re

At AssetRush Zurich, a forum uniting qualified and institutional investors with today’s financial pioneers, our CEO Mark Rueegg highlighted how parametric insurance provides fast cash relief to help businesses and communities recover quickly after an extreme weather event or natural disaster. As the financial effects of climate change intensify, the need for innovative risk transfer schemes is urgent. Unlike traditional insurance, parametric solutions guarantee quick payouts without proof of loss or lengthy claim assessments, helping people cover urgent needs and build a more resilient future. AssetRush | Philippe A. Naegeli #AssetRushxZurich2024 #parametricinsurance #climaterisk #natcat

🌾 Financial relief for smallholder farmers in Zambia and Malawi against drought. One Acre Fund and Global Parametrics, a member of the CelsiusPro Group, partner to provide financial protection for smallholder farmers in Zambia and Malawi against the strain of losing their crops due to drought. The two organisations jointly developed a water-balance index that measures the availability of water for crops, relying on weather data from independent third parties. If the water balance index falls below a specified threshold, payouts are triggered, and farmers do not need to present proof of loss or undergo lengthy damage assessments. This season, payouts for droughts linked to El Niño phenomenon have already been issued, benefiting approximately 77,600 smallholder farmers in Zambia and Malawi with payments exceeding MWK 1.41 billion (around USD 812,600). Risk capacity is provided by the Natural Disaster Fund (NDF), managed by the Global Parametrics team. The NDF, a public-private partnership funded by UK and German governmental entities, is mandated to provide risk capacity for parametric solutions that enhance climate and natural catastrophe resilience for poor and vulnerable communities. The NDF shares risks with Hannover Re. One Acre Fund is a social enterprise that supports around 5 million farmers across 9 countries in Sub-Saharan Africa with agricultural services including high-quality inputs, extension, training, insurance, and more.     Foreign, Commonwealth and Development Office | KfW | Federal Ministry for Economic Cooperation and Development (BMZ) | Hannover Re

Hurricane Beryl is causing widespread damage across the Caribbean, impacting Jamaica and causing extensive destruction in Grenada, and St. Vincent and the Grenadines. The storm is forecasted to bring hazardous winds and waves to the Cayman Islands from late Thursday into Friday. Beryl, the first hurricane of the 2024 Atlantic season, has become the earliest storm on record to reach the highest category. Unusually high sea temperatures, driven by the climate crisis, contributed to Beryl's intensification. Small-island developing states and countries prone to natural disaster are particularly vulnerable to extreme events such as Beryl, underscoring the urgent need for climate and disaster risk finance and insurance (CDRFI) instruments. Parametric insurance is a scalable solution provides rapid, pre-agreed payouts based on event intensity, ensuring urgent financial assistance for early reconstruction and emergency cash expenses. 🔎 https://lnkd.in/e9zfSABZ

We are hiring a Senior Parametric NatCat Underwriter to join our team in Zurich 🍫 or London 💂. 📊 In this newly created role, you will report to the Chief Underwriting Officer. Your responsibilities will include structuring, pricing, and risk analysis of parametric NatCat solutions requested by the Business Development team. You will manage specific accounts and build relationships with capacity providers and other stakeholders in the (re)insurance value chain. 🔥 If you are passionate about climate and NatCat risks, parametric solutions, and the reinsurance market in general, have 2-3 years of experience (especially in the London market), and are fascinated by data science—then we’d love to hear from you. 📬 Apply today!  Zurich-based: https://lnkd.in/eQeUMsBi London-based: https://lnkd.in/e6ne7hDF

In case you missed it — The Natural Disaster Fund (NDF), which is managed by the Global Parametrics team (part of the CelsiusPro Group), has provided risk capacity to support the renewal of Quintana Roo's parametric tropical cyclone coverage. 🤝 The NDF is a public-private partnership funded by UK and German governmental entities. Its mandate is to provide risk capacity for parametric solutions that foster climate and NatCat resilience for poor and vulnerable communities. The NDF shares risks with Hannover Re. 🔗 Visit the NDF website: https://lnkd.in/eY3R_dE6 Foreign, Commonwealth and Development Office | KfW | Federal Ministry for Economic Cooperation and Development (BMZ) | Hannover Re

Join a webinar on July 3rd to hear from Samuel Lloyd Brown and other participants key insights from the Swiss Climate Reporting Forum, including the latest proposals on reporting regulations from the Swiss government. Don't miss out on valuable strategies for your climate risk and reporting strategy. Register today: https://lnkd.in/gnHPKkJ8

Exclusive details of a renewed parametric #hurricane policy for a Mexican state, more initiatives to build resilience in the public sector, a payout in India and more in the second issue of The Insurer’s #parametric newsletter. Plus, why more sports organisers are concerned about weather risks and how insurance could help them stay in the game. This issue includes news from Liberty Mutual Reinsurance, Global Parametrics, Howden, AXA Climate, FloodFlash, NormanMax Insurance Holdings, Inc, Swiss Re, Allianz, InsuResilience Solutions Fund (ISF), IBISA NETWORK, REVO Insurance, Munich Re, SCOR and Vortex Weather Insurance. To stay informed on future developments in the parametric and alternative risk transfer market, sign up below. #parametricinsurance #weatherrisk Spencer Beatrice Isabelle Mark Chris Ana Daniel Maria Gareth Jack Olga Andrew