Businesses are facing unprecedented challenges as natural disasters become more frequent and severe. Severe weather events, wildfires, and other natural catastrophes can cause direct damage assets, bring business operations to a standstill, and indirectly impact firms not located in the affected areas.
Traditional insurance coverage may not be sufficient to cover both physical damage and the loss of income associated with business interruption. As natural disasters and associated risks increase, parametric solutions can help enhance companies’ risk mitigation efforts by filling gaps in coverage that could leave them vulnerable.
