Parametric MGA FloodFlash has paid claims after heavy rainfall from Storm Bert hit the UK in recent days.

MGA Sola has launched a parametric insurance product for US homeowners covering severe convective storm losses from wind and hail, underwritten by Tokio Marine Kiln (TMK).

Generali sees capital markets investors as an additional source of capacity for its parametric portfolio, which can diversify its reinsurance panel, the firm's global head of parametric products and solutions for Global Corporate & Commercial Michele Pignoli has said.

A parametric insurance-backed loans instrument for West African countries, developed by the West African Development Bank (BOAD), African Risk Capacity (ARC) and Munich Re was triggered by floods in Togo last month.

Parametrix's new Enterprise Solutions product is designed to cover "almost any type of system interruption that a company can experience" and would compensate organisations for events like the CrowdStrike outage in July, according to CEO Jonathan Hatzor.

Increasing and complex supply chain risks are one of several factors behind corporations' growing use of captives, according to discussions at this year’s Federation of European Risk Management Associations (Ferma) gathering in Madrid.

NormanMax Syndicate 3939, the first Lloyd’s syndicate dedicated to parametric natural catastrophe (re)insurance, has been approved to grow its stamp capacity to £108mn ($136.6mn) for 2025,

Lockton Re has announced a partnership with Verisk to use its risk models for agriculture (re)insurance, including developing new parametric products.

Aventum Group-owned MGA Rokstone has launched a global parametric offering for natural catastrophe risks backed by NormanMax Syndicate 3939.

The government of Panama is set to receive $26.7mn after its excess rainfall policy with regional risk pool CCRIF SPC was triggered by flooding earlier this month.