Building transparent coverage for hurricane risks

The Florida insurance market has faced numerous challenges in recent years. For insurers to underwrite profitably in Florida, having the right hurricane reinsurance is essential. David Schmid, Head of Parametric Products, Reask and Brian Espie, Chief Underwriting Officer, Kettle, join Henry Gale to discuss the new parametric reinsurance solution Kettle and Reask have created for Florida hurricane risks.

Topics include:

• Why parametric can help insurers buy reinsurance that reflects their own view of risk

• The advantages of parametric reinsurance over industry loss warranties (ILWs)

• The data sources Reask uses to calculate hurricane wind speed at different locations

• How Hurricane Ian’s wind patterns were unusual and why it matters