Is There a Future for Parametrics?

As we get more extreme weather related events, more natural catastrophes, you could see why people would want to have this kind of insurance in place. But on the other hand, one of the criticisms I've seen of catastrophe bonds is that if you are offering more protection against extreme weather, then maybe that will disincentivize people from planning effectively for climate change or maybe changing their own behavior. So there's only a certain number of people who really want to put down capital for that sort of thing. There'll be an element of cyber risk into them as well and it has capacity issues because it's obviously an enormous risk.