12 March 2021Insurance

Insurance loss warranties are gaining popularity: Stonybrook

Parametric triggered products such as insurance loss warranties (ILW) are gaining in popularity because of the simple and speedy resolution of payments, according to global investment banking and reinsurance broking firm Stonybrook Capital & Risk Management.

Stonybrook established its ILW desk in the summer of 2020 and has completed several ILW transactions since then.

The company is developing new products and services to assist the re/insurance market, according to Joe Scheerer, chief executive of Stonybrook.

Dan Butzbaugh, Stonybrook Risk Management, said: “Our goal was to bring technology that delivers transparency, improved market intelligence, and a less intrusive price-discovery process for underwriters and buyers, and we are thrilled by the support of the ILW marketplace.”

Paul Kneuer of Stonybrook Capital noted that Stonybrook’s experience working with CAT exposed insurers can be leveraged in the ILW arena as well.

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Insurance loss warranties are gaining popularity: Stonybrook

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