Insurance Linked Security (ILS) triggers have long included indices based upon industry surveys and loss estimations. In the US the PCS (Property Claim Services) has become the industry benchmark for many Industry Loss Warranty (ILW) and some index traded insurance products. Outside the US, Swiss Re’s Sigma publication has been the recognised index. However, these loss notification media were not designed for this purpose.

However, there is a new toy in the ILS toyshop.

Tags: ILS, ILW, Reinsurance, Swiss Re