News Summary

• Parametric insurance provides a predetermined payment when a specific event or policy trigger occurs.
• AIG’s new Parametric Cloud Outage Solution triggers are based on a predefined formula that considers cloud service downtime and the associated potential financial impact.
• The solution, developed in partnership with digital infrastructure insurance solutions Parametrix, covers events like outages affecting cloud infrastructure, software-as-a-service platforms, or other cloud-based technology services.
• According to Synergy Research Group, global enterprise spending on cloud infrastructure services reached $129 billion in the first quarter of 2026.