The new parametric solutions, available across perils and a range of industries, are designed to help protect clients against the occurrence of a specific and trigger-based event.
Ovation Home Insurance Exchange is the most recent approval, followed by Manatee Insurance Exchange, Condo Owners Reciprocal Exchange and Orange Insurance Exchange.
The negative outlooks are based on the declining trend in Vermont Mutual’s risk-adjusted capitalisation in recent years, which has created pressure on its overall balance sheet assessment.