Insight
Parametric insurance: A captivating solution
Parametric policies, which pay based on the magnitude of an event, can bridge coverage gaps that are difficult to insure with a traditional indemnity policy.
This alert covers on a high level the potential impact of a bill introduced Feb. 24 in Congress on multiemployer pension plans if the bill were to become law. Representative John Yarmuth (D-KY) introduced the American Rescue Plan Act of 2021 (H.R. 1319) in the House. The bill provides for COVID-19 relief, including the Butch Lewis Emergency Pension Plan Relief Act of 2021 (Butch Lewis EPPRA). This alert highlights five possible impacts of Butch Lewis EPPRA on plans.
Insight
Parametric policies, which pay based on the magnitude of an event, can bridge coverage gaps that are difficult to insure with a traditional indemnity policy.