Marathon and sport event parametric insurance
Protects races and outdoor sporting events against disruption from extreme heat, wind or rain, triggered on the heat-stress index at the venue.
Index, trigger and payout
Payout
How the cover works
What is measured, and when it pays.
- Risk covered
- Cancellation/disruption of an outdoor sporting event from extreme heat, wind or rain.
- Parametric trigger
- WBGT / heat index at the event location.
- Payout
- Predefined payout compensating the loss, sized on an 11-tier trigger scale.
- Index resolution
- Named asset, per event
- Data and model
- Log-normal severity distribution — same actuarial basis as Event.
- Typically for
- Events, tourism & leisure
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.