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Parametric reinsurance contract triggers for Hurricane Ian damages

December 6, 2022


Arbol, an insurtech platform underwriting climate and weather insurance, has delivered a $10-million parametric insurance payout to property and casualty (P&C) company Centauri Insurance, only weeks after the hurricane struck in late September.

This is the first known parametric insurance payout for damages related to Ian, according to Arbol. It was made less than three weeks after the Category 4 storm made landfall in Florida. Arbol used a combination of “non-traditional and traditional sources of capital” for the reinsurance payout.

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