Construction site parametric insurance
Compensates weather delays on a construction site: the days when rain or wind exceed the operational thresholds of the works.
Index, trigger and payout
Payout
How the cover works
What is measured, and when it pays.
- Risk covered
- Construction schedule delay from weather exceeding operational thresholds (rain or wind).
- Parametric trigger
- Daily precipitation and max wind gust at the site.
- Payout
- Predefined payout compensating the loss, sized on an 11-tier trigger scale.
- Index resolution
- Grid cell, daily
- Data and model
- Gamma distribution — standard project-duration/delay model (PERT/CPM risk-analysis practice).
- Typically for
- Construction & infrastructure
Weather family
Other weather covers.
Next step
Test the trigger on your own location.
We back-test the index at your site over its full history and come back with indicative terms, before anything is bound.