Home›Insurance›Reinsurance›Stonybrook completes parametric reinsurance transactio…

Stonybrook completes parametric reinsurance transaction led by Dan Butzbaugh

The firm said the deal is designed to speed claims by responding within days post event, using an A+ underwritten security structure with no deductibles or traditional exclusions.

Reported · Written up by our desk · Reinsurance

Stonybrook Risk Management, a licensed reinsurance intermediary and wholly owned subsidiary of Stonybrook Capital, has completed a parametric reinsurance transaction led by Dan Butzbaugh, its global head of parametric, according to Reinsurance News.

Stonybrook said the transaction provides a faster, more direct claims process that responds within days after an event, and it is underwritten by an A+ security. The company also said the structure was designed to fill a coverage gap in a cedant’s reinsurance tower through a rapid and efficient quoting process.

The firm added that the product has no deductibles or traditional exclusions, positioning it as one option in the market for coverage gap solutions. Stonybrook noted it leveraged parametric risk takers to deliver an efficiently priced offering.

Stonybrook Capital Chairman and CEO Joe Scheerer said the company is pleased with Butzbaugh’s parametric efforts and that it is working on additional, larger projects in the segment.

More like this

Sources