Liberty Mutual Reinsurance and climate technology firm Celest.Science will collaborate on a potential fallback methodology supporting event characterization for parametric insurance, AM Best reported on Oct. 26.
AM Best's headline describes the work as cyclone risk methodology, and its coverage lists hurricanes, windstorms and earthquakes.
The published summary does not give the perils, the parties' roles, a timetable or commercial terms.
For allocators evaluating parametric protection, the key question is whether a fallback method becomes a shared reference for resolving trigger disputes or a proprietary house method.
Reported by the Cat bonds & reinsurance desk from AM Best News. Published . Corrections