#parametricinsurance — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #parametricinsurance, aggregated by home.social.
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Parametric Insurance Expands as Communities Seek Faster Climate Disaster Recovery Funding
📰 Original title: Traditional Home Insurance Is Collapsing. Here’s What Could Fill the Gap
🤖 IA: It's clickbait ⚠️
👥 Users: It's clickbait ⚠️ -
Parametric Insurance Expands as Communities Seek Faster Climate Disaster Recovery Funding
📰 Original title: Traditional Home Insurance Is Collapsing. Here’s What Could Fill the Gap
🤖 IA: It's clickbait ⚠️
👥 Users: It's clickbait ⚠️ -
"India's government has begun early-stage talks with local insurers about designing a nationwide climate-linked insurance programme aimed at simplifying the payout process after extreme weather events such as heatwaves and floods.
The scheme would adopt a parametric insurance model, where policyholders receive a pre-determined payout when specific weather thresholds such as rainfall, temperature or windspeed are breached."
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"The short-term scheme targets house owners, officegoers, auto and cab drivers, shop owners, delivery agents, home service professionals, gig workers and event attendees.
The climate risks include extreme heat, cold waves, and excessive rainfall, and the policies covers [e.g.] unexpected commute cost, reduced sales due to extreme weather, supply chain delays due to flooding, leaks from prolonged rainfall, loss of income for daily wage workers."
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An Indian City’s Battle Against #ExtremeHeat
"In addition to #ParametricInsurance programs for outdoor workers, there are efforts in Ahmedabad to cover roofs with heat-reflective paint, implement early-warning systems and establish hospital heat wards. The proactive approach has become a blueprint for other cities in developing countries who have accepted that record temperatures aren’t just freak weather: they’re the new reality as the planet continues to warm."
https://www.bloomberg.com/features/2023-india-ahmedabad-extreme-heat/