Descartes eyes parametric opportunities

In recent years, the nat cat insurance market has been under strain, with a notable dip in capacity. This has presented significant challenges, especially for those burdened with distressed, loss-affected, or sizeable risks, to secure adequate coverage. Robert Drysdale (pictured) of  Descartes Underwriting thinks this could be a window of opportunity for the parametric market.

“Where traditional insurance has fallen short, the parametric market can fill that void,” Drysdale believes. Speaking to Intelligent Insurer, he suggested that parametric insurance can be a great a solution to bring fresh capacity in markets that are under intense pressure, such as cyber and political violence.