Parametric insurance definition

Parametric insurance means a type of insurance that does not indemnify the pure loss, but ex ante agrees to make a payment upon the occurrence of a triggering event;
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Parametric insurance means, for the purposes of this Coverage Form, an agreement under which an insurance entity or organization agrees to pay you an agreed amount upon the “occurrence” of a “cancellation event” for the “insured peril” during the “coverage dates” of this policy, as defined by this Coverage Form and Declarations.
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Examples of Parametric insurance in a sentence

  • Parametric insurance is a risk transfer arrangement that, unlike indemnity insurance, does not indemnify one for the full loss caused by a disaster event.57 Instead, a purchaser of parametric insurance buys a pre- defined amount of protection that pays out according to an agreed-upon triggering event.58 An example would be a parametric insurance policy that pays out $10 million if a 0.2% annual chance flood occurs.

  • The Fund’s 80% investment policy is non-fundamental and may be changed without shareholder approval upon 60 days’ prior written notice to shareholders.The Fund, using a “passive” or indexing investment approach, attempts to approximate the investment performance of the Index by investing in a portfolio of securities that generally replicates the Index.

  • Parametric insurance products are priced for each country based on the individual country risk profile.

  • Parametric insurance refers to insurance that responds to objective parameters (such as rainfall or temperature) at defined measurement institutions over an agreed period of time.

  • Parametric insurance offers a break-through in the potential to proactively manage risk to ecosystems, as the data requirements are significantly less.Therefore, we propose to build on and strengthen an initial parametric reef insurance model developed by The Nature Conservancy (TNC) in Quintana Roo3 to develop and pilot the implementation of risk transfer for selected sites on the Mesoamerican Reef.

  • The United States Department of Education Office of Civil Rights (“OCR”) reportedly determined that District 65’s focus on race violated Title VI regulations.

  • Parametric insurance pricing should encourage and reward an individual or coun- try for enhancing climate resilience, rather than incentivize extra risk taking.

  • Parametric insurance is a type of insurance that does not cover the actual loss, but the insurer agrees to make a pre determined payment upon the occurrence of a triggering event, often a catastrophic natural event.

  • Parametric insurance is based on the probability of occurrence of an event and not the loss it could cause, so no adjustments are made to these.

  • Parametric insurance is a type of insurance that does not indemnify the pure loss, but instead agrees to make a payment upon the occurrence of a triggering event.

Related to Parametric insurance

  • Group long-term care insurance means a long-term care insurance policy which is delivered or issued for delivery in this State and issued to:

  • Long-term care insurance means group insurance that is authorized by the retirement system for retirants, retirement allowance beneficiaries, and health insurance dependents, as that term is defined in section 91, to cover the costs of services provided to retirants, retirement allowance beneficiaries, and health insurance dependents, from nursing homes, assisted living facilities, home health care providers, adult day care providers, and other similar service providers.

  • group insurance means insurance, other than creditor’s group insurance and family insurance, whereby the lives of a number of persons are insured severally under a single contract between an insurer and an employer or other person; (“assurance collective”)

  • Co-insurance means the percentage of the usual, reasonable, customary, and fair market value expense that a covered person must pay.

  • Medical malpractice insurance means insurance against legal liability incident to the practice and provision of a medical service other than the practice and provision of a dental service.

  • FHA Insurance The contractual obligation of FHA respecting the insurance of an FHA Loan pursuant to the National Housing Act, as amended.

  • In-Orbit Insurance means, with respect to any Satellite (or, if the entire Satellite is not owned by the Issuer or any Restricted Subsidiary, as the case may be, the portion of the Satellite it owns or for which it has risk of loss), insurance (subject to a right of co-insurance in an amount up to $150.0 million) or other contractual arrangement providing for coverage against the risk of loss of or damage to such Satellite (or portion, as applicable) attaching upon the expiration of the launch insurance therefor (or, if launch insurance is not procured, upon the initial completion of in-orbit testing) and attaching, during the commercial in-orbit service of such Satellite (or portion, as applicable), upon the expiration of the immediately preceding corresponding policy or other contractual arrangement, as the case may be, subject to the terms and conditions set forth in this Indenture.

  • long-term insurance business means the business of providing or undertaking to provide policy benefits under long-term policies, but does not include -

  • Group health insurance coverage means in connection with a group health plan, health insurance

  • Sponsored captive insurance company means a captive insurance company:

  • First party insurance means an insurance policy or contract in which the insurer agrees to pay a claim submitted to it by the insured for the insured's losses.

  • Fidelity Insurance means insurance coverage with respect to employee errors, omissions, dishonesty, forgery, theft, disappearance and destruction, robbery and safe burglary, property (other than money and securities) and computer fraud in an aggregate amount acceptable to Seller’s regulators.

  • Primary care giver" means a person who assumes the principal role of providing care and attention to a child.

  • Individual health insurance coverage means health insurance coverage offered to individuals in the

  • Security Management Plan means the Supplier's security management plan prepared pursuant to paragraph 3 of schedule 2 an outline of which is set out in paragraph 2.7 of the Order Form as updated from time to time;

  • Ocean marine insurance means insurance against loss of or damage to:

  • Health insurance means protection which provides payment of benefits for covered sickness or injury.

  • Comprehensive Plan means the City's Comprehensive Land Use Plan and its implementing Ordinances, policies and development standards.

  • Professional liability insurance means insurance against legal liability incident to the practice of a profession and provision of a professional service.

  • Travel Insurance means coverage for personal risks incidental to planned travel, including one or more of the following:

  • Health insurance carrier or "carrier" means any entity subject to the insurance

  • Primary insurance means the policies listed in this policy’s Umbrella Schedule.

  • Health insurance plan means any health insurance policy or health benefit plan offered by a health insurer or a subcontractor of a health insurer, as well as Medicaid and any other public health care assistance program offered or administered by the State or by any subdivision or instrumentality of the State. The term includes vision care plans but does not include policies or plans providing coverage for a specified disease or other limited benefit coverage.

  • Health insurance coverage means benefits consisting of medical care (provided directly, through

  • Insurance means comprehensive insurance of the vehicle(s)/equipment and shall include insurance of the crew.

  • Adopt a comprehensive land use plan means to enact a new