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The use of parametric insurance as an alternative to traditional indemnity-based insurance has increased over the last twenty years, particularly as a mechanism for insuring against extreme weather risks. Following said increasement, parametric insurance in Latin America has not received a standardized legal treatment. Every country has developed its applicable normative, at its sole discretion,
Insuralex is not a law firm, does not practice law and does not provide legal advice or legal opinions. Insuralex members are not a partnership of law firms or lawyers and are not affiliated or in a relationship for the joint practice of law. Insuralex member firms are strictly independent firms.
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