8 May 2025 – London, UK – Yokahu, a leading innovator in parametric insurance, today announced that Cincinnati Global Underwriting (CGU) has entered into a delegated authority agreement with Yokahu, marking the first full binder on cat-risk.com, the independent many-to-many parametric exchange launched earlier this year.
This landmark agreement enables brokers to instantly bind global parametric insurance and reinsurance capacity for tropical cyclone and earthquake perils, with flood and additional perils available in specific territories. The binder operates under Lloyd’s licences and authorisations, making it available globally in accordance with Lloyd’s regulatory footprint.
Until now, capacity on cat-risk.com was offered solely on a prior-submission basis, with a typical 48-hour turnaround. This new delegated authority transforms the placement process: brokers can now bind risks instantly within pre-agreed parameters, bringing the speed and certainty of quote-and-bind to the parametric insurance market for the first time.
“This is a significant milestone in the evolution of cat-risk.com,” said Tim McCosh, Founder & CEO of Yokahu. “We’re not just reducing friction – we’re redefining the broker and carrier experience in parametric insurance. Brokers can now place risks in minutes, carriers can build and manage portfolios more dynamically, and the market overall benefits from increased speed, accessibility, and transparency.”
The agreement with Cincinnati Global enables real-time deployment of parametric capacity while maintaining the flexibility and diversification principles of Lloyd’s syndication model. Like the physical underwriting room at Lloyd’s, the digital exchange allows multiple carriers to participate on a coinsurance basis, taking shares of risks according to their appetite. This facilitates greater capacity participation, even with smaller line sizes, while helping carriers manage portfolio volatility.
Farid Tejani, Co-Founder of Yokahu, added: “We’re seeing overwhelming broker demand for faster, more accessible parametric solutions. This binder unlocks new opportunities for clients with smaller budgets and underserved geographies who historically couldn’t access parametric insurance due to minimum premium thresholds or slow placement processes.”
CGU’s move into the parametric market reflects a strategic commitment to innovation and climate resilience. “We are proud to announce our collaboration with Yokahu and believe this partnership represents a strategic step forward in how we support stakeholders in the face of climate-related and natural disaster risks.” said a spokesperson for CGU. “This partnership is a strategic step forward in how we support stakeholders facing climate-related and natural disaster risks. Diversification has consistently been a fundamental pillar of CGU’s strategic direction, and the move into the parametric insurance market represents a considered step into a specialised and increasingly significant area of the insurance sector.”
On why they partnered with Yokahu CGU added:
“We have chosen to work with Yokahu because of their deep expertise in parametric insurance, their commitment to closing protection gaps in underserved markets, and their use of cutting-edge data and technology to deliver reliable, scalable solutions. Cat-Risk will empower clients and agents to build greater resilience in a changing world.”
The delegated authority agreement expands cat-risk.com’s offering at a time when demand for fast, reliable disaster finance continues to grow. The platform, which launched in March 2025, integrates leading data providers and leverages digital contract execution to ensure faster claims settlement. Bound contracts exist as digital instruments, enabling rapid validation and payment of claims – doubling down on parametric insurance’s core promise of swift, transparent payouts.
McCosh concluded: “With this first binder in place, we’re paving the way for more carriers to deploy smart-follow capacity or set their own parameters on the exchange. This is a meaningful step in delivering a digital market that mirrors the syndication strengths of Lloyd’s while addressing today’s urgent climate and catastrophe risks.”
Notes to Editors:
About Yokahu
An approved Coverholder at Lloyd’s and Lloyd’s Lab alumni, Yokahu is a parametric insurtech dedicated to underwriting extreme weather and natural catastrophe risks via parametric (re)insurance. Its mission is to catalyse and increase access to disaster risk transfer solutions, helping communities and businesses build resilience in a changing climate.
In the UK, Yokahu and cat-risk.com are trading names of McCosh Holdings Ltd. McCosh Holdings Ltd is an Appointed Representative of ES Risks Limited, which is authorised and regulated by the Financial Conduct Authority.
For more information, visit https://yokahu.co.