Webinar: Non-Damage Business Interruption
Black swans or unknown unknowns? Non-physical Damage Business Interruption, the true story
With rising interest in parametric insurance products, we view Non-physical Damage Business Interruption (NDBI) coverage as the next step in the evolution of solutions for exposures that have been difficult to insure.
As companies rely less on tangible properties and become more dependent on complex, world-wide supply chains, there are additional risks that come into play, e.g. regulatory, reputational and cyber.
Unfortunately, traditional property damage and business interruption policies do not necessarily protect corporations from all the risks that may lead to a business interruption loss. Like sightings of black swans, our local experiences have found that such risk events are becoming more and more common.
Innovative NDBI insurance solutions can further expand the scope of insurability by helping improve the efficiency of risk transfer and reduce earnings and cash flow volatility.
In this webinar we covered:
- The concepts behind NDBI insurance
- Various approaches to insured perils, defining triggers, structuring and indemnity for NDBI insurance
- Real-life examples from the team at Swiss Re Corporate Solutions and unique approaches that may drive further discussions.