Windstorm policy could add nat cat capacity: Adam Adamson
Crypto currency reinsurer Nayms has launched a retrocessional type of windstorm cover which pays out in stablecoin and could help to rapidly expand the amount of reinsurance available for hurricanes.
That’s the hope of Adam Adamson , the head of business development at the Bermuda-based start-up, who spoke to Bermuda:Re+ILS for Voices of Bermuda.
“The programme is going to be insuring US named windstorm cover as a form of retro cover for a reinsurance company based in Bermuda that ultimately writes their reinsurance to various homeowners and insurers in the United States, Adamson says. “There has been severe dislocation after Hurricane Ian and there’s been a real demand for capacity in that market and we were approached by a cedent who was looking for additional capacity to do this.”