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Parametric insurance a valuable addition to climate risk management landscape: WRMS

January 25, 2024

Parametric insurance is said to be significantly disrupting and complementing traditional insurance models across the climate industry, by offering innovative solutions that address the shortcomings of conventional approaches.

In the face of climate-related risks, assessing and quantifying damages accurately can be a very challenging task, but through the use of parametric insurance, which utilizes predefined, objective parameters to trigger payouts, the need for lengthy claims assessments is eliminated.

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