The Pacific Catastrophe Risk Insurance Company (PCRIC) has highlighted the need for further financial support as demand for its products and services grows.

Africa Specialty Risks has added Generali Global Corporate & Commercial's Fanny Dunner to its parametric underwriting team, Parametric Insurer can reveal.

The Democratic Republic of Congo (DRC) is launching a parametric drought and rainfall insurance product for up to 300,000 farmers, supported by the World Bank, the Global Shield Solutions Platform and private sector partners.

The Bayer Foundation, the charitable arm of pharmaceutical and biotechnology firm Bayer, has provided a €10mn ($10.5mn) grant to insure smallholder farmers across Africa and Asia, in partnership with parametric insurance specialist Pula.

WTW has closed down its unit focused on disaster risk finance solutions for the public sector, humanitarian organisations and NGOs, Parametric Insurer understands.

Global Parametrics has partnered with rural social commerce platform Frontier Markets to provide parametric drought insurance to women smallholder farmers in India.

Sompo Insurance Thailand has launched a parametric flight delay solution for its travel insurance customers in partnership with assistance firm Collinson.

MGA Descartes Underwriting has developed a new parametric tornado insurance product for US solar farms, with payouts based on the proportion of the surface area that has been shown to have been damaged by satellite imagery.

Multinational beverage company JDE Peet's has sponsored parametric weather insurance pilots for coffee farmers in Vietnam, in partnership with MSIG Vietnam and insurtech Hillridge.

Parametric underwriter Descartes is now offering limits of up to $70mn on the sensor-triggered flood insurance coverage it offers in the UK and Ireland in partnership with flood specialist Previsico.