K2 Parametric Insurance Services, LLC, a subsidiary of K2 Insurance Services, has expanded its carrier panel by adding Palms Specialty, a division of Palms Insurance, to its lineup. This collaboration will enhance K2 Parametric’s capacity to offer commercial Parametric Natural Catastrophe policies covering US earthquake and hurricane risks, in line with the evolving needs of their clients.
Scott Carpinteri, President of K2 Parametric, expressed enthusiasm about the partnership, stating, “It’s been a pleasure working with Abi and her team harmonizing K2 Parametric’s portfolio and expertise with Palm’s risk appetite. We are delighted to work with such a forward-thinking carrier.”
Abigayle Claflin, Head of Business Development at Palms Insurance, highlighted the value of parametric insurance in addressing the uncertainties of the insurance landscape, stating, “In a highly unpredictable space, the simplicity and certainty of coverage presented by parametric insurance is a refreshing complement to any exposed property placement. Palms Specialty is pleased to support the growth of an emerging product segment, and to also partner with and support Scott, a true ambassador of the space.”
Scott Carpinteri, who joined K2 in November 2021 according to Reinsurance News, brings extensive experience in the insurance industry, notably from his tenure at Swiss Re Corporate Solutions, where he contributed significantly to the advancement of Parametric Insurance as a risk management tool.
