Swiss Re issues first weather-indexed parametric insurance policy

Swiss Re Ltd.'s insurance arm Swiss Re Corporate Solutions Ltd. has completed the issuance of the first weather-indexed parametric insurance policy for a hydroelectric power company in Brazil, Artemis.bm reports. The policy is designed to offer relief in the event of severe droughts, as the parametric risk transfer solution enables energy providers to limit their exposure to extreme weather events, such as a lack of rainfall or flooding.

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