Fog parametric insurance
Covers the operations lost when visibility stays below an operational threshold for the agreed number of hours.
Index, trigger and payout
Payout
How the cover works
What is measured, and when it pays.
- Risk covered
- Horizontal visibility falling below an operational threshold for a sustained duration.
- Parametric trigger
- Hourly visibility, cumulative below-threshold hours.
- Payout
- Predefined payout compensating the loss, sized on an 11-tier trigger scale.
- Index resolution
- Weather station, daily
- Data and model
- Log-normal distribution — standard duration-type meteorological model.
- Typically for
- Logistics, maritime & fisheries
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.