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Posted by sharpe
on June 27, 2008, 12:50 am, in reply to "Re: Using "Best Track" for insurance --- this sounds cool"
194.177.166.118
Dominic
yes we are worried about losing. The Philippines gets hit on average 20+ times a year.
We also are trying to keep the premiums low at around 5-10% of sum assured.
Payouts are made on a sliding scale depending on the Saffir Simpson scale of intensity, but we will try to calibrate the payout scale to historic losses from the Bureau of Agriculture. The premiums are actuarially calculated to be sufficient in the long term
We are piloting either this September or December in the Philippines - starting near Iloilo
--Previous Message--
: Your goals sounds cool, but aren't you
: concerned of losing?....certain places in
: the Philippines get to be struck by typhoons
: more than once in a year and it doesn't mean
: that if you're far off the track you aren't
: affected likewise. Thats a whole lot of
: insurance money!!!!
:
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