{
      "name": "parametric-trigger-adjudication",
      "domain": "Insurance & Reinsurance",
      "title": "Parametric Trigger Adjudication",
      "spec_version": "0.8.0",
      "wave": 43,
      "description": "Gated two-step chain for parametric insurance trigger adjudication and cat bond term validation. Step 1 evaluates the parametric trigger (threshold / tiered / linear_index) and emits trigger_hit and payout_amount. Gate on /trigger_hit: if false (trigger not fired), the chain ends -- no payout, no bond validation needed. If true (default), Step 2 validates the cat bond trigger terms (attachment/exhaustion ordering, pro-rata arithmetic, layer position). Outputs a tamper-evident trigger receipt anchored at anchor.ainumbers.co/mcp for neutral dispute adjudication per IAIS ICP 19. ZERO PII BY CONSTRUCTION.",
      "composer_url": "https://ainumbers.co/chaingraph/chains/parametric-trigger-adjudication.html",
      "regulatory_refs": [
        "ISO 11116:2023 (parametric insurance trigger methodology)",
        "ISDA/IAIS cat bond trigger definitions",
        "Swiss Re sigma 1/2024 (cat bond trigger types)",
        "IAIS ICP 19 (claims handling, neutral adjudication)",
        "NAIC catastrophe bond guidelines"
      ],
      "steps": [
        {
          "tool_id": "art-251-compute-parametric-trigger-payout",
          "handoff": "Trigger evaluation result including trigger_hit boolean, payout_amount, trigger_fraction, and trigger_receipt. Gate on /trigger_hit: false exits -- no payout triggered. Default (true): proceed to cat bond term validation.",
          "gate": {
            "input": "/trigger_hit",
            "rules": [
              {
                "op": "eq",
                "value": false,
                "next": "end"
              }
            ],
            "default": "art-252-validate-cat-bond-trigger-terms"
          }
        },
        {
          "tool_id": "art-252-validate-cat-bond-trigger-terms",
          "handoff": "Cat bond layer position (BELOW_ATTACHMENT / WITHIN_LAYER / ABOVE_EXHAUSTION), pro-rata factor, and payout_amount. Final stage -- anchor both execution_hashes for a two-node trigger receipt."
        }
      ]
    }