The first incremental coverage option for small and medium businesses
OVERLAND PARK, Kan., March 7, 2023 /PRNewswire/ — Vortex Insurance, the insurance technology leader in parametric weather insurance, today announced the launch of an innovative insurance program that enables the purchase of additional hurricane insurance for some United States of America threatened each summer with the possibility of severe storms. In contrast to traditional insurance products, this first of its kind New added coverage gives business entities peace of mind and protection in the event of a Category 3 or higher hurricane with fast payouts with no questions asked or large deductibles.
Set to launch in Spring 2023, Vortex’s extended hurricane insurance works to cover the gaps left by traditional insurance policies. Vortex’s parametric hurricane policy triggers if the insured business is within a single 20-mile loop or a dual-circle 20 to 40 miles from the center of a hurricane – offering peace of mind and assistance to business owners when natural disasters strike without the hassle of claims paperwork or regulators. Just before the start of hurricane season June 1st, it will be available for purchase through the online portal. With a few simple clicks, policies are issued and available online within minutes.
“Over the last few years, we’ve seen far too many businesses hurt by hurricanes across the country – not just coastal locations in the usual ‘hot-spots’ like Florida And Texas. And I don’t mean just a simple case of property damage,” he said Andy Klaus, Vice President of Business Development. “Even when there is no physical damage, small business owners often have difficulty dealing with disruptions in business after a hurricane. This new Vortex Hurricane insurance alleviates this difficulty and can prevent businesses from experiencing devastating loss of income during tough times without the hassle of having to prove damage or loss , and waiting for the claim to be processed, you can read more about the process on us blogs.”
One additional year of coverage is automatically triggered once a Category 3 or higher hurricane passes through a 20 or 40 mile circular area (based on your policy) with fast payout regardless of whether your business suffers damage or loss from the hurricane. Additionally, policies are structured to offer payouts if more than one hurricane crosses into your policy coverage area within the same policy year. The policy owner does not need to prove loss or business interruption.
Vortex Supplemental Hurricane Insurance joins Vortex’s seamless and simple suite of parametric weather insurance products, including weather-related insurance for sporting events, bazaars, concerts, golf events and seasonal attractions.
For more on Vortex Supplemental Storm Insurance, watch this videosvisit www.vortexinsurance.com or send to us message.
About Vortex Insurance
Vortex Weather Insurance (dba Vortex Insurance Agency, LLC) is a data-driven weather risk insurance company that offers businesses a variety of affordable parametric weather index insurance products. Since 2008, Vortex has provided parametric rain insurance for outdoor events ranging from motor sports, youth sports, parades, bazaars and festivals, outdoor theater and professional golf to haunted houses and holiday lights events. Insurance is underwritten by Mitsui Sumitomo Insurance United States of America, Inc. (MSU), recognized in all 50 states and rated AM Best A+ (Superior). Weather or not… the Vortex. Contact us at vortexinsurance. com
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SOURCE Vortex Weather Insurance