Parametric is a powerful tool for developers and contractors in the construction sector. By insuring against events rather than damages, it smoothly covers delays, whether direct or due to disruption of supply chains. It also covers damages to property like conventional insurance, but from the ground up, without deductibles, sub-limits, or coinsurances. Its flexibility allows for highly structured coverage with escalating limits as construction progresses. It is available and often more affordable as an insurance to satisfy lenders. Claims payments are almost immediate – measured in days, not months. As a compliment to conventional insurances or on their own, parametric is an appealing alternative. This panel of experts explains how it works, and why every construction project should include at least an element of parametric coverage.