Reinsurance firm Swiss Re continues to expand its parametric risk transfer activities, this time with the launch and backing of the first county-level natural catastrophe index insurance product in China. Swiss Re is supporting and reinsuring a county-level natural catastrophe index insurance cover in Mao County . The expansion of its parametric risk transfer work will be focused on earthquake-susceptible China in China , becoming the first such product in the country at that level. The reinsurance company did previously back province-level parametric or index insurance products in China covering catastrophic events. Technological advances and the general and detailed improvement of data sources means coverage can now be applied at a lower level. AVIC UNITA Property Insurance Company will deliver reinsurance support in addition to providing technical input for the local-led project.
Swiss Re is supporting and reinsuring a county-level natural catastrophe index insurance cover in Mao County . The expansion of its parametric risk transfer work will be focused on earthquake-susceptible China in China , becoming the first such product in the country at that level. The reinsurance company did previously back province-level parametric or index insurance products in China covering catastrophic events. Technological advances and the general and detailed improvement of data sources means coverage can now be applied at a lower level. AVIC UNITA Property Insurance Company will deliver reinsurance support in addition to providing technical input for the local-led project.