Printed from BusinessInsurance.com

Swiss Re and Aon develop parametric cover for energy project

Posted On: Mar. 6, 2023 9:57 AM CST

Swiss Re Corporate Solutions Ltd. has collaborated with Aon PLC and the International Finance Corp. to develop a parametric earthquake coverage for the Upper Trishuli-1 Hydropower Project in Nepal, Artemis reported. The coverage allows the flexibility of adjusting the insured values year-on-year to reflect any delays of changes in the construction process. The 2015 earthquake hindered the 216 megawatts greenfield run-of-river hydropower project's progress and made traditional insurers reluctant to provide cover in the location of the dam.