Parametric Insurance for Builder's Weather Risks
Why is it relevant?
Frequency and severity of extreme weather events are growing every year. These events lead to delays of construction projects, and any of these non-physical losses are not covered in traditional Builders risks policies.
Individual coverages, e.g. additional payroll & rental fees, penalties, loss of gross earnings, admin costs.
How does it work?
Insurance pays out on predefined weather events at the construction site (rain, wind, temperature - hot/cold).
Who is it designed for?
Owners and contractors that are facing financial losses (missed deadlines, penalty fees, revenue losses).