PARAMETRIC INSURANCE CENTER

Waters Insurance Network provides parametric solutions to a variety of sectors, across international markets. An increase in the severity of global Natural Catastrophes, has led to businesses feeling the economic effects of a more volatile global climate. In addition, the global pandemic has resulted in reduced capacity and reduced coverage across conventional insurance markets, as well as confusion and dispute over the scope of policy coverage.

Parametric coverage is the perfect solution to fill the void in your coverage, where traditional policies are unable to help and provide clear and measurable criteria for a claim recovery.

Current Available Parametric Solutions Include:

• Natural Catastrophe events: tornado, hurricane, flood, hail, earthquake, wildfire, snow, frost
• Energy: temperature variants, solar radiation, wind, power outage protection
• Leisure, Hotel and SMEs: revenue loss protection from non-weather events such as active shooter, pandemic, terror attacks
• Construction: project delays and BI due to weather events.
• Top Up Business Interruption Cover: BI included only to compliment material damage on a property policy, parametric solutions will cover a variety of other triggers.

Automated Downtime Coverage That Pays Without Prompting

With Parametrix Insurance coverage, we automatically monitor the services that you rely on, and if an interruption occurs that meets the agreed-upon threshold in your contract, we notify you and send payment immediately. No claims. No hassles. Just the coverage you deserve.

Don’t Let Downtime Losses Ruin You

Most businesses today rely on IT services like cloud computing, payment gateways, e-commerce platforms, the internet, and more. When one of these services goes down, your revenue model is interrupted, and you lose money. Current downtime insurance programs are heavily restrictive, and proving loss is nearly impossible. It may take you years of battling with an insurance company to collect what is owed to you. 

With Parametrix Insurance coverage, we automatically monitor the services that you rely on, and when an interruption occurs that meets the agreed-upon threshold in your contract, we notify you and send payment immediately.

No claims. No Waiting. No lost time.

JUMPSTART EARTHQUAKE INSURANCE

Jumpstart is a surplus lines insurance broker with a mission to help you build financial resilience to natural disasters.

Through our partnership with them, we are making a first layer of earthquake insurance accessible to more people. Jumpstart coverage is based simply on your insured location and your experience of extra expenses, not time-consuming claims paperwork. Low-cost, no-hassle earthquake insurance gets more people protected.

Here’s how it works: You pay a low monthly cost in premiums. If your insured location experiences intense earthquake shaking, you simply reply to our text message to confirm that you’ve been affected. We then deposit your payment directly to your bank account, after only a few short days.

No paperwork, no deductible, no visit from an insurance adjuster.

No business should fail due to losses caused by natural perils. Cannabis and Hemp cultivators in particular are exposed to a wide variety of risks, all of which pose a threat to product quality and the financial stability of their operation. As the global climate becomes increasingly volatile, it is more important than ever for cultivators to ensure their crop has adequate protection from environmental factors that are out of their control. The crop and its quality are central to the entire supply chain.

PARAMETRIC CROP COVERAGE?

No business should fail due to losses caused by natural perils. Cannabis and Hemp cultivators in particular are exposed to a wide variety of risks, all of which pose a threat to product quality and the financial stability of their operation. As the global climate becomes increasingly volatile, it is more important than ever for cultivators to ensure their crop has adequate protection from environmental factors that are out of their control. The crop and its quality are central to the entire supply chain.

Step 1:

Together, we choose indices of weather events, which are likely to cause damage to your crop. We then set pre-defined thresholds for the chosen perils, which, when breached, will result in an insured loss.

Step 2:

Throughout the policy period, insurers monitor the climate indices and are notified when pre-defined thresholds are exceeded.

Step 3:

Upon notification of loss, claims are automatically paid within three days without the use of loss adjustors.

What Perils Does Parametric Crop Coverage Protect Against?

• Hail
• Drought
• Excess Rain
• Wildfire
• Frost
• Wind
• Tornado
• Cyclone

We serve the following industries:

• Hotel and Leisure
• Construction / Developers
• Events
• Energy (oils & gas / renewables)
• Transport Companies
• Real Estate
• Agriculture
• Hemp and Cannabis cultivators
• Cyber
• SME’s (e.g. car dealerships)
• We also offer parametric coverage to complement gaps in traditional coverage. E.g. Business Interruption.

Other important information:

• Facility business available (we can cover a portfolio of HNW properties and all restaurants)
• Maximum Value: USD 150,000,000 any one location
• International cover available
• ‘A’ Rated security
• Automatic claims payments within 7 days