CORRECTED-Targeted insurance offers French farmers some drought relief [Reuters]
SWISS RE LTD S/ADR (SSREY)
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Source: Reuters
CORRECTED-Targeted insurance offers French farmers some drought relief - Reuters 4 Min Read (Corrects first name of Meteo Protect CEO to Gabriel in Aug 1 story) * Parametric insurance designed initially for natural disasters * Data science advances means model can be more widely applied * Swifter payouts for customers, low costs for insurers By Inti Landauro PARIS, Aug 1 (Reuters) - Hundreds of French farmers who signed up for specialist policies aimed at insuring against freak weather are getting swift payouts which could help them recover from heatwaves and prolonged droughts that hit parts of the country. The payments underline how so-called parametric policies, which pay out when a pre-agreed event such as a hurricane of specific intensity occurs, are becoming a growth market for insurers in developed economies as global temperatures rise. Temperature records tumbled during late July’s European heatwave, the second to hit Europe in a month, and climate specialists warn such bursts
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