AIDA Comparative Notes

AIDA World Scietific Committee, headed by Prof. Sara Landini, (University of Florence) , is launching a new project "The Comparative Notes" and invites you to join in .

The idea is to learn how a certain notion of insurance is treated by other jurisdictions and have the possibility to compare it with your own.

The notes will be collected and published on AIDA website , and will allow anyone interested in insurance law, a direct access to a greater scope of professional material, both for research purposes and for practical solutions. Each note will be published with name and contact details of the author which may give us all the opportunity to ask for clarifications and elaboration, where required.

The first note was written by Sara Landini on Parametric Insurance.

This innovative concept , also known as Index insurance, affords automatic right for agreed sums of insurance benefits upon the achievement of a target index such as wind speed or rainfall measurements . The fact that no proof of the actual loss to the insured or its quantification is required, raises interesting questions whether this is an insurance contract ? is the notion of indemnity a fundamental element of insurance which is absent from this concept?

How is this model treated in your jurisdiction?

Please take this note as an example and write to us- whether in your jurisdiction this may be considered as insurance? And if it is, in which branches of insurance it may be found?

You can review Sara's note and send your note from your perspective to : sara.landini@unifi.it .

AIDA members have at their fingertips the knowledge and understanding of the insurance issues from their own angle. The accumulation of all these proficiencies will grant us at AIDA World a great benefit.

The success of this project for the benefit of all, depends on your contribution.

With best wishes,

Peggy Sharon