Parametric insurance, climate-adapted cat models to trend this year
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Analysts at U.S.-based financial and property analytics firm CoreLogic Inc. expect climate-adapted catastrophe risk models and parametric insurance to be highly popular this year following another year of increased losses, Reinsurance News reported. Parametric insurance can complement traditional indemnity insurance, while climate-adapted cat risk models can project losses more accurately, making these products suitable for tackling climate change-induced perils.
