News From Law.com
The defining feature of parametric insurance is its ability to provide swift payouts. Traditional insurance often involves lengthy claims processes. Conversely, parametric insurance eliminates much of this bureaucracy. Since payouts are triggered by predefined events, there's less ambiguity in assessing the damage, leading to faster disbursement of funds. This rapid injection of capital can be instrumental in facilitating quick recovery after a covered loss.
Property & Casualty
December 27, 2023, 11:00 PM