Parametric hurricane coverage provider Vortex Weather has expanded its supplemental hurricane insurance solutions to Hawaii.
Vortex’s parametric hurricane coverage provides automatic payouts based on National Hurricane Center data. The company promises swift claims process, with no proof of loss required. Payments can contribute towards any financial loss including flood, storm surge, wind and business interruption.
Flexible triggers for payouts include a recorded hurricane path of any category (1-5) within 30 miles of the insured business, and a recorded Category 3+ hurricane path within 60 miles of the insured business.
As part of this expansion, Vortex is partnering with:
- ExcurInsure, a provider of insurance services designed to help businesses de-risk their exposure to weather events.
- Hawaiian Hurricane Group, an MGA/MGU that specializes in bringing custom built hurricane insurance products to the Hawaiian Islands.
- Skyline Partners, which helps reinsurers, brokers, underwriting and distribution agents, affinity partners, and government agencies solve risk challenges with data-driven insurance products.
- Augment Risk, a provider of strategic reinsurance and risk capital services.
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