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flag Willis (WTW) launches UK/Ireland parametric storm insurance, paying out automatically on red weather warnings.

flag Willis, a unit of WTW, has launched a parametric insurance policy in the UK and Ireland that automatically pays out when the UK Met Office or Met Éireann issues a red weather warning for severe conditions like high winds or storms. flag Unlike traditional insurance, it triggers payouts based on forecasts, not actual damage, helping businesses cover costs from pre-emptive actions like event cancellations or facility closures. flag Designed with Swiss Re Corporate Solutions, the policy offers fast, transparent claims and is aimed at sectors such as hospitality facing climate-related disruptions. flag The launch follows increased extreme weather events, including Storm Éowyn in January 2025, and reflects a growing trend toward innovative risk solutions in Europe.

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