BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.
To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.
To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.
Socius Insurance Services Inc. has launched cloud downtime coverage in the wholesale market in partnership with Parametrix Insurance Services LLC.
San Francisco-based Socius, a management liability and property/casualty insurance wholesaler, will offer the product from New York-based Parametrix, their joint statement Wednesday said.
Parametrix has a parametric insurance product that covers lost time from information technology services. The company independently monitors third-party providers and says that once a “downtime event” is detected, its automated policy will pay claims within 15 days.
As a parametric policy, limits and coverage are pre-agreed, the statement said.
Cynthia Zimmerman and Kevin Kershisnik, co-cyber practice leaders at Socius, said in the statement the Parametrix policy provides “uncontested business interruption coverage in the event of a cloud provider outage.”