Travel and Tourism
All India Logistics, operating a fleet of trucks in India, procures parametric insurance to mitigate risks during the monsoon season. When heavy rainfall leads to flooding in key transportation routes, triggering the parametric insurance based on predefined parameters, All India Logistics swiftly receives a payout to cover financial losses incurred from delays
Who Can Benefit
- Hotels & Resorts
- Tour Operators and Travel Agencies
- Airlines and Cruise Lines
- Adventure and Outdoor Activity Providers
- Car & Bike Rental Companies
Rainfall
Cyclone
Flood
Earthquake
Sample Policy
A hotel and resort chain in Uttarakhand purchased an index travel & tourism cover to protect loss of income in case of closure of outdoor activities and last-minute guest cancellations due to adverse weather.
Coverage Terms
POLICYHOLDERHotel & Resort Chain
LOCATIONNarendra Nagar, Tehri Garhwal, Uttarakhand
DATA SOURCETotal Precipitation, ECMWF ERA-5 Land (Geo Reference: 30.2°N 78.3°E)
PAYOUT BASED ONCumulative Rainfall over 5 days
COVERAGE PERIOD1st January to 31st December
PAYOUT LEVEL 1150 mm pays 2 Days' Occupancy Charges
PAYOUT LEVEL 2250 mm pays 5 Days' Occupancy Charges
PAYOUT LEVEL 3350 mm pays 10 Days' Occupancy Charges
MAXIMUM PAYOUT30 Days' Occupancy Charges
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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