However, based on experience and a disciplined focus on what is and isn’t possible the speculative time has reduced, and the story is beginning to change to one of conversion.

Since the beginning of 2022 Dan Nicholls and Mark Zammit have been converting deals:

• Holiday rental leasing agent with majority of sales in a CAT zone- should certain events occur the parametric triggers and the agent receives payment for projected cancellation and consequential loss of revenue.
• Flood that could impact operations for a business based in coastal Texas – exposed to both storm surge flooding; but also pluvial flooding from the type that was generated by Harvey.
• Utility firm previously bought a Named Windstorm parametric to allow voluntary increase in the attachment of their traditional insurance programme - claim paid under the parametric that kept traditional insurance placement loss free; and at anniversary they not only renewed but have also purchased an additional and complementary parametric.

These are very recent bound examples, there is much more that can be done and structures available beyond weather or natural catastrophe parametrics. We are actively working on placements for agriculture, reputational risk, occupancy (hotels/flights), credit, and cash flow financing.