Ascot announces new parametric insurance capabilities

Global specialty insurance firm Ascot has announced the establishment of a new parametric insurance capability to complement its Property offering.

This enhanced capability will be led by Mark Pepper, Ascot Group Chief Underwriting Officer and supported by the London property underwriting team.

Available across perils and a range of industries, Ascot’s parametric solutions have been designed to provide critical, accessible coverage to clients in an increasingly volatile risk landscape.

As natural catastrophes continue to increase in both frequency and severity, the insurer aims to use its experienced property underwriters and climate risk specialists to be able to offer bespoke parametric policies and help protect clients against the occurrence of a specific, trigger-based event.

“Ascot remains a leading property (re)insurance underwriter and is committed to the class across both the traditional and alternative markets,” said Pepper.

He continued: “We recognize that today’s Nat Cat clients are increasingly looking for new and flexible coverage offerings to help reduce protection gaps, support resiliency plans, and manage volatility in their businesses, and alternative solutions like parametric products enable them to access coverage for risks that may not be optimal for the traditional property market.

“In an uncertain world, we are committed to providing stability, diversity, and creativity in our property solutions over the long term.”

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