Chaz and Kairos structure parametric fish farm cover in South China Sea

By Henry Gale

Feb 18 - (The Insurer) - An aquaculture firm in Southeast Asia has purchased a parametric typhoon cover designed by Thailand-based broker Chaz and consultancy Kairos Risk Solutions.

The regional offshore aquaculture specialist had faced challenges with reduced yield caused by typhoons, which this policy is designed to cover.

It protects two separate locations in the South China Sea, with payouts triggered if typhoons of Category 2 or above pass through pre-defined areas.

This policy is the first parametric insurance deal closed as part of the collaboration between Kairos and Chaz, the companies said. They first announced a partnership on parametric and trade credit insurance solutions last August.