The use of parametric insurance as an alternative to traditional indemnity-based insurance has increased over the last twenty years, particularly as a mechanism for insuring against extreme weather risks.
Following said increasement, parametric insurance in Latin America has not received a standardized legal treatment. Every country has developed its applicable normative, at its sole discretion, depending on the requirements of the local insurance markets.
Notwithstanding, the following are the main regulatory trends for parametric insurances in the region:
(I) Countries where the local regulation does not provide nor mention any applicable law for parametric insurance and, therefore, as it is not explicitly forbidden, it is deemed permitted;
(II) Countries where the local regulation accepts parametric insurance;
(III) Countries where the local regulation and the parametric insurance commercialization are only for agriculture and livestock practices;
With this in mind, this webinar will present the latest report on parametric insurance prepared by the exclusive members of Insuralex in Latin America. Additionally, members of the insurance market and industry supervisors will talk about the present and future of parametric insurance and new market trends.
Download the report: 2022 Parametric Insurance in Latin America
Date: October 26th, 2022
Time: 10 am Miami (UTC/GMT-4) 3pm London / 4pm Madrid
Language: Simultaneous translation English-Spanish
(This webinar is aimed at and designed exclusively for insurance and reinsurance professionals, as well as (re)insurance intermediaries. Law firms are only allowed to participate if they belong to Insuralex)