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:
““Five o’clock tea” is a phrase our “rude forefathers,” even of the last generation, would scarcely have understood, so completely is it a thing of to-day; and yet, so rapid is the March of the Mind, it has already risen into a national institution, and rivals, in its universal application to all ranks and ages, and as a specific for “all the ills that flesh is heir to,” the glorious Magna Charta.”
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“The human mind is capable of excitement without the application of gross and violent stimulants; and he must have a very faint perception of its beauty and dignity who does not know this.”
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