Loss of Business Revenue
A retail F&B chain wanted to protect their loss of income due to reduced footfall during inclement weather. They purchased a business interruption index insurance cover that pays out their notional loss of profits on heavy rainfall days.
Who Can Benefit
- Commercial Complexes
- Educational Institutions
- Property Management Companies
- Telecom Companies
- Theme parks and outdoor attraction
Earthquake
Cyclone
Flood
Rainfall
Sample Policy
A retail F&B chain purchased a business interruption index cover that pays out notional loss of profits on heavy rainfall days.
Coverage Terms
POLICYHOLDERRetail Food & Beverage Chain
LOCATIONChennai, Tamil Nadu
DATA SOURCETotal Precipitation, ECMWF ERA-5 Land (Geo Reference: 13.1°N 80.2°E)
PAYOUT BASED ONCumulative Daily Rainfall
COVERAGE PERIOD1st January to 31st December
PAYOUT LEVEL 1150 mm Rainfall pays 1 Days' Notional Profit
PAYOUT LEVEL 2250 mm Rainfall pays 2 Days' Notional Profit
PAYOUT LEVEL 3350 mm Rainfall pays 3 Days' Notional Profit
MAX PAYOUT LEVEL30 Days' Notional Profit
Payout Sheet
For illustration purposes, a sample of one cover is presented below. Generally, covers using multiple indices are offered for comprehensive coverage.
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