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Swiss Re to provide Alabama state cat cover
27 July 2010
Global reinsurer Swiss Re has announced a first-of-its-kind agreement with the Alabama State Insurance Fund, to provide a three-year parametric insurance cover for the state's primary catastrophic hurricane exposure.
Read more:
Swiss Re
Alabama State Insurance Fund
Raj Singh
MultiCat Mexico
Caribbean Catastrophe Risk Insurance Facility
Global reinsurer Swiss Re has announced a first-of-its-kind agreement with the Alabama State Insurance Fund (SIF), to provide a three-year parametric insurance cover for the SIF’s primary catastrophic hurricane exposure.
This agreement marks the first time a US state government has utilised such an innovative solution to transfer its financial exposure from natural catastrophes to the private sector, making it an important step in dealing with the costs associated with...
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