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“When you talk about the actual trigger, you are identifying the right threshold at which it is going to create disruption, whether that be a physical disruption or economic disruption, is a very important part of the conversation early on,” Alex Kaplan (center), Amwin Group executive vice president, alternative risk, said. “When you talk about the actual trigger, you are identifying the right threshold at which it is going to create disruption, whether that be a physical disruption or economic disruption,” said Alex Kaplan (center), Amwin Group executive vice president, alternative risk.

Although parametric insurance policies have been gaining traction in recent years, they are actually the oldest form of insurance, according to panelists who participated in an education session on the topic during the Wholesale & Specialty Insurance Association (WSIA) 2021 Annual Marketplace.

“Think about life insurance. You die and a pre-agreed upon amount of money is going to be paid upon that triggering event,” said Alex Kaplan, executive vice president, alternative risk, Amwins Group. “That’s parametric insurance.”

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