Application
Parametric insurance is ideal for low frequency but high intensity losses as in catastophic perils, weather related risks in agriculture or other economic activities, and risks sought to be covered without sufficient history of losses captured as insurance readable data.
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Famous quotes containing the word application:
“Science is intimately integrated with the whole social structure and cultural tradition. They mutually support one other—only in certain types of society can science flourish, and conversely without a continuous and healthy development and application of science such a society cannot function properly.”
—Talcott Parsons (1902–1979)
“It would be disingenuous, however, not to point out that some things are considered as morally certain, that is, as having sufficient certainty for application to ordinary life, even though they may be uncertain in relation to the absolute power of God.”
—René Descartes (1596–1650)
“The main object of a revolution is the liberation of man ... not the interpretation and application of some transcendental ideology.”
—Jean Genet (1910–1986)