Chaucer unveils latest parametric initiative

Chaucer has partnered with K2 Parametric to provide coverage for US mid-size corporates and municipalities against hurricane and earthquake damage.

The re/insurer will be providing lead capacity for this new parametric product through the London market.

Chance Gilliland, head of global property delegated authorities at Chaucer, said: “Chaucer is excited to be partnering with K2 Parametric to provide hurricane and earthquake cover to the US market. K2 Insurance, through Scott and his team, have the knowledge and expertise to help bridge the insurance gap for these underserved customer segments.

“As risks posed by natural perils become more severe, the need for parametric insurance products is becoming more pronounced. Chaucer is delighted to be expanding its presence in this fast-growing and innovative area of the market. We believe our partnership with K2 Parametric complements our ability to offer catastrophe cover through more traditional products.”

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