For businesses like ski resorts, shopping centers, landscaping and snow removal companies, Vortex’s parametric snow policies provide peace of mind by covering too much – or too little – winter snow.
OVERLAND PARK, KS – It might still feel like summer, but winter’s heavy snowfall – or snowlessness – is just around the corner, and Vortex Weather Insurance is excited to announce that they are now selling snow risk policies directly to businesses, or through their brokers.
Whether you need protection from too much snow or even too little, small businesses can now purchase parametric snow insurance from Vortex. Previously, policies were only available through Vortex’s parent company MSI GuaranteedWeather.
“We are thrilled that our customers now have direct access to our snow risk policies,” said Andy Klaus, Vice President of Business Development for Vortex. “This is just one more way we can help protect our customers from unexpected losses or increased expenses created by the weather.”
Unlike traditional snow coverage derivatives, parametric snow insurance has no minimum eligibility requirements, premiums are treated as business expenses, and payouts are not typically taxed, creating greater flexibility for the insured.
For businesses that thrive during snowy winters, Vortex has policies to help insure against financial loss if the weather doesn’t cooperate. Snow risk insurance can cover companies that need snow to succeed by helping protect them from a winter with too little snow. Structured similarly to Vortex’s other snow policies, the policyholder sets a snow threshold and a time period. If it snows less than the threshold within the time constraints, the policy pays out, making it a great choice for snow-dependent businesses like ski resorts and snow removal contractors.
Should your business be snow-averse, whether it’s a weekend event that needs protection or an entire winter season, Vortex can structure snow policies to accommodate. Parametric snow policies kick in when a specific amount of snow is exceeded during a certain risk period or when the policyholder hits a specified number of snow events. No proof of damage is needed. These policies are perfect for small businesses, retail centers, school districts, HOAs and other property management companies, airports, colleges and universities. Snow insurance can even be event-based for businesses or winter events that want to insure just one day (or just a few hours) against a certain amount of snowfall.
“The great thing about our parametric snow policies is that they provide peace of mind for every type of business that could be impacted by snow – whether it’s too much snow or too little,” Klaus said.
ABOUT VORTEX WEATHER INSURANCE:
Vortex Weather Insurance (dba Vortex Insurance Agency, LLC) is a data-driven weather risk insurtech that offers businesses a variety of affordable parametric weather index insurance products, including commercial supplemental hurricane insurance. Since 2008, Vortex has provided insurance for outdoor events ranging from fairs and festivals, motorsports, youth sports, pickleball events, professional golf tournaments and golf clubs to outdoor theaters and concerts, haunted houses and holiday light events. Insurance is underwritten by Mitsui Sumitomo Insurance USA, Inc. (MSU), admitted in all 50 states and has an AM Best rating of A+ (Superior). Weather or not … Vortex it. Contact us at vortexinsurance.com .