Parametric Insurance Coverage
Parametric coverage offers a pre-defined payout in the event of a specific climate-induced event loss occurring during the shipment’s transit journey. In short, it ensures your goods are covered against an “Act of God”. This insurance can be purchased prior to or during the shipment’s transit, as long as it’s before the event.
- Damage to cargo
- Loss of income
- Business interruption
Who Needs It?
Groups shipping during turbulent weather seasons or events.
Your goods are in transit and there’s a storm that’s set to intercept them. This creates a high likelihood of damage to either the immediate cargo or the vessel transporting the goods. You know this is going to occur and likely damage your goods so you decide to get parametric coverage before the event for peace of mind.