Vortex Weather Insurance Extends Coverage to Pickleball Clubs, Air Shows, and Auto Racing Events
Title: Parametric Weather Insurance Protects Outdoor Events Across Industries
Overland Park, Kan., Oct. 15, 2024 – As rain storms become more severe and frequent across the country, outdoor event organizers are turning to parametric weather insurance to protect their investments. Vortex Weather Insurance is leading the way in providing coverage for a wide range of industries, from fair and festival organizers to golf tournament organizers and concert promoters.
One industry that has recently embraced parametric weather insurance is pickleball events. At PickleCon in Kansas City, Mo., pickleball event organizers learned about the benefits of this type of insurance to safeguard their tournaments from potential revenue loss due to rain. Eric Anderson, Director of National Sales at Vortex, noted the excitement among pickleball club owners and event organizers for this new form of protection.
Auto racing, another industry heavily impacted by weather, has also seen the value of parametric weather insurance. Local tracks, where many drivers get their start, can now protect their entire season or specific large-gate events with payouts automatically triggered by rain and time parameters set within the policy.
In addition to ground events, Vortex is also insuring air shows that can be grounded by weather conditions. By using hyperlocal rainfall totals to trigger payouts, air show organizers no longer have to worry about revenue loss due to cancellations. Andy Klaus, Vice President of Business Development at Vortex, emphasized the importance of protecting investments in events like air shows to ensure their return year after year.
No matter the industry, parametric weather insurance offers quick payouts when policy parameters are met, with no restrictions on how the funds can be used. Event organizers do not have to prove any damage occurred – if the rainfall, date, hours, and location targets are hit, the policy pays out.
Vortex Weather Insurance has been providing affordable parametric weather index insurance products since 2008, underwritten by Mitsui Sumitomo Insurance USA, Inc. With an AM Best rating of A+ (Superior), Vortex continues to help businesses across various industries protect their outdoor events from weather-related losses.
For more information, visit vortexinsurance.com.
Media Contact:
Patrick Moree
Buffalo Groupe
832.294.4041
pmoree@buffalogroupe.com
Source: Vortex Weather Insurance
Link to original content: https://www.prnewswire.com/news-releases/pickleball-clubs-air-shows-and-auto-racing-events-join-growing-list-of-industries-served-302275456.html
