SINGAPORE REGULATION CALLS FOR MORE USE OF PARAMETRIC INSURANCE

The Managing Director of Singapore’s financial regulator has called for greater use of Parametric and Index based Insurance to close the protection gap in natural catastrophe and disaster risk.

Mr. Rovi Menon who spoke at the Institute of Catastrophe Risk Management (ICRM) Symposium said that more innovative use of these products is integral to solving one of the biggest risk management challenges in the region.

“We must put in place mechanisms for effective assessment, management and transfer of disaster risks”

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