Augment Risk is working with Skyline Partners to expand the availability of its hurricane insurance protection for businesses and residential condominium owners in Hawaii.

Capacity is supplied by Kansas-based parametric specialist Vortex Weather Insurance under a binder arranged by Augment Risk. Policies are distributed by local producer ExcurInsure and Hawaiian Hurricane Group. Skyline Partners acts as capacity supplier with responsibility for product design, structuring and index calculation.

“We were excited to assist Hawaiian Hurricane Group in the development of this innovative parametric hurricane protection programme and support its ongoing operation and growth,” said Laurent Sabatié, executive director at Skyline Partners. “By deploying our agency facility and working with our longstanding partners at Augment Risk, who brought MSI to the project, we have delivered everything HHG needed to extend their offer to include Hawaii hurricane coverage for commercial and condominium risks."

“We utilise a standard cat-in-a-circle trigger with single or double radiuses, activated by a windspeed index based on NOAA data and built on our InsDex platform. This result is a transparent and efficient parametric coverage, offering limits of up to US$1m per single risk. MSI, Vortex Weather and Skyline worked very closely on the risk modelling to ensure competitive and fair pricing. It’s set to shift the landscape for hurricane insurance in this highly exposed, high-values area.”

Paul Ramiz, associate partner of Parametric Solutions, Augment Risk, added: “Partnering with Skyline Partners, HHG, Vortex and ExcurInsure presents a significant opportunity to collaborate and distribute parametric expertise and best-in-class products for our partners. We look forward to working together to deliver cutting-edge parametric hurricane solutions to a wider client audience in Hawaii.”

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