Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NU Online News Service

Alabama has made a three-year agreement with Swiss Re in which the insurer will pay the state for wind losses based on documented wind speed in the event of a hurricane.

Similar to a derivative, but called a parametric insurance solution, Swiss Re compensates the buyer based on the physical characteristics of a disaster. The payment can be used for any purpose, including emergency response costs, replacing lost tax revenue and funding of increased insurance costs, Swiss re said.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?



Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.