Lloyd’s launches parametric cyclone insurance product in Australia
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Lloyd’s launches parametric cyclone insurance product in Australia

Luke Harrison
23 November 2021
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A photograph of the Lloyds Building in London from ground up

Lloyd’s has launched the first retail parametric cyclone insurance product in northern Australia, which provides pay-outs in relation to windspeeds from a severe tropical cyclone.

Redicova, the new product, is supported by the Lloyd’s Disaster Risk Facility (DRF), an initiative designed to help build resilience by closing insurance protection gaps around the world.

Beazley

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