This April, Dr. Sabine Loos and Margaret Miles traveled to Sarasota, Florida for the innaguration of their joint project with Guy Carpenter and the Climate Adaptation Center. With the help of Guy Carpenter, a leading global risk and reinsurance specialist and broker and the Climate Adaptation Center, a local non-profit focused on community education and adaptation to climate change and impacts, the team is exploring the opportunity of novel insurance methods.
Photo: Margaret Miles and Sabine Loos at Hurricane Day, April 2025. Photo credit: Climate Adaptation Center.
Guillermo Franco and Laura Verderame from Guy Carpenter, along with Dr. Sabine Loos of AIDD labs presented the introduction of this new idea: Parametric Reciprocal Insurance for the community of Sarasota.
This insurance is known for being community-owned and led, paid out more efficiently based off a windspeed rather than damage assessments, and may be a new opportunity for a community stricken with hurricanes. The team is in the early stages of user-assessment and problem definition to understand the scope of design of this potential new product.
Find more information about Hurricane Day on the Climate Adaptation Center website here.
Read more about Hurricane Day in the Sarasota Tribune Article here: https://www.heraldtribune.com/story/news/local/sarasota/2025/04/02/climate-adaptation-center-reveals-2025-hurricane-season-forecast/82701072007/.
