Parametric Insurance for the Public Sector

Learn how Descartes’ parametric solutions address the distinctive risk management requirements of public sector organizations and the communities they serve.

Every year, natural disasters incur significant economic costs worldwide, impacting both industrialized and developing nations, placing a heavy financial burden on the public sector. Public entities must have the necessary tools for financing relief efforts, facilitating recovery, and funding the reconstruction of public infrastructure. Parametric insurance offers a vital tool for enhancing disaster risk management.

At Descartes, we recognize the importance of close collaboration to understand and mitigate the climate and natural risks confronting public entities, offering tailored solutions that meet the unique needs of this sector.

Descartes' parametric solutions offer unparalleled flexibility, ensuring the protection of public assets and coverage for both direct and indirect financial losses incurred from disasters as part of relief efforts. Benefiting from stable pricing and ample insurance capacity, our solutions offer resilience against a wide range of weather-related risks, including tropical cyclones and earthquakes. Additionally, Descartes’ innovative covers extend protection to industry-specific risks vital to the public sector, such as those inherent in agriculture and renewable energy.

Our commitment extends to even the most vulnerable regions worldwide, including remote locations, facilitated by our streamlined claims process that eliminates the need for on-site loss adjustment.

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