Vortex Weather Insurance, a data-driven insurtech, announced that its parametric snow insurance policies are now available for direct purchase by businesses or through their brokers. Previously, these policies were only accessible through Vortex’s parent company, MSI GuaranteedWeather.
Direct Access to Parametric Snow Insurance
This expansion allows businesses to more easily protect themselves against financial risks caused by heavy snowfall or insufficient snow. Vortex’s parametric policies have no minimum eligibility requirements. Premiums can be treated as business expenses, and payouts are typically not taxed, adding flexibility and efficiency.
Coverage for Too Much or Too Little Snow
Vortex offers policies tailored to different weather impacts. For snow-dependent operations like ski resorts and snow removal contractors, coverage can pay out if snowfall does not meet a set threshold within a specified period. For businesses affected by excessive snowfall, policies can trigger when snow accumulation surpasses a defined amount or when a set number of snow events occurs. Event-based coverage is also available for single-day or short-term needs.
Wide Range of Potential Policyholders
The company notes that its snow risk solutions can benefit various organizations, including retail centers, school districts, homeowner associations, airports, colleges, universities, and planners of winter events. Proof of damage is not required to file a claim.
About Vortex Weather Insurance
Vortex Weather Insurance (dba Vortex Insurance Agency, LLC) specializes in insurtech-driven weather risk solutions. Since 2008, the company has offered parametric weather index insurance for events such as fairs, festivals, motorsports, and professional golf tournaments. All policies are underwritten by Mitsui Sumitomo Insurance USA, Inc., which is admitted in all 50 states and carries an AM Best rating of A+ (Superior).
For more information, visit vortexinsurance.com.
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