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Parametric insurance (also called index-based insurance) is a non-traditional insurance product that offers pre-specified payouts based upon a trigger event. [1] Trigger events depend on the nature of the parametric policy and can include environmental triggers such as wind speed and rainfall measurements, business-related triggers such as foot traffic, [2] and more.
Worldwide news site focused on natural disasters, mitigation and climate changes news "Global Risk Identification Program (GRIP)". GRIP. "BioCaster Global Health Monitor". National Institute of Informatics (NII). Archived from the original on 2014-05-04. "World Bank's Hazard Risk Management". World Bank. Archived from the original on 2010-04-09
Index-based insurance, also known as index-linked insurance, weather-index insurance or, simply, index insurance, is primarily used in agriculture. Because of the high cost of assessing losses, traditional insurance based on paying indemnities for actual losses incurred is usually not viable, particularly for smallholders in developing countries .
The Natural Hazards Disclosure Act, under Sec. 1103 of the California Civil Code, [1] states that real estate seller and brokers are legally required to disclose if the property being sold lies within one or more state or locally mapped hazard areas. The law specifies that the six (6) required hazards be disclosed on a statutory form called the ...
The current replacement value is defined as what monetary value the organization places on the facility. An accurate FCI is dependent on the cost estimates developed for the facility deficiencies and current replacement value. [citation needed] The FCI is a relative indicator of condition, and should be tracked over time to maximize its benefit.
The Manning criteria are a diagnostic algorithm used in the diagnosis of irritable bowel syndrome (IBS). The criteria consist of a list of questions the physician can ask the patient. [ 1 ] The answers are used in a process to produce a diagnostic decision regarding whether the patient can be considered to have IBS.
Plant (Land, building and equipment) fund – Some organizations hold their non-current assets and related liabilities in a separate fund from the current assets. Current fund – unrestricted – If the organization holds his non-current assets in a plant fund then this is used to account for current assets that can be used at the discretion ...
Conceptually, the index is composed of exposure to extreme natural hazards and the societal vulnerability of individual countries. Earthquakes, cyclones, floods, droughts, and climate-induced sea-level rise are considered in the exposure analysis.