“With wildfire risks, property damage may be clear at the claims stage, but parametric insurance also covers costs related to ‘non-physical damage’ such as emergency response, supply chain disruption, and denial of access,” said Gethin Jones, co-founder and executive director at Skyline Partners. “To do that effectively, the product structure and defined triggers need the appropriate level of precision for the risks that are being covered. Satellite data can therefore be a great tool for settlement triggers.
