Global insurance firm Swiss Re, with the assistance of local specialist insurer Taiwan Fire & Marine Insurance, has developed the first parametric aquaculture insurance solution covering fish farmers in Taiwan against extreme rainfall, reports Artemis.
The parametric insurance product will cover 120,000 hectares of grouper onshore fish ponds in Ping Tung County, Taiwan against losses caused by the occurrence of extreme rainfall totaling more than 480 mm in two consecutive days, backed by Swiss Re’s reinsurance capital.
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