OVERLAND PARK, KANSAS ─ With the increasing severity and frequency of rain storms around the country, rain insurance has become a staple for many fair and festival organizers, golf tournament organizers, and concert promoters and venues. These businesses are turning to Vortex Weather Insurance to provide cover for their outdoor events. But Vortex’s parametric protection extends far beyond these industries.
From the pickleball court to the racetrack to the skies, event organizers are discovering the value of parametric weather insurance to help protect their events.
Pickleball events often face weather-related challenges, which is why Vortex recently joined pickleball event organizers and enthusiasts at PickleCon, a multi-day event in Kansas City, Mo., about all things pickleball. With so many pickleball events occurring outdoors, event organizers were excited to learn about the benefits of parametric rain insurance to protect their tournament investment.
“People jumped on it for big events,” said Eric Anderson, Director of National Sales. “The pickleball club owners and event organizers are excited to use our rain insurance to protect expected revenue from potential loss from rain and see it as a perfect fit.”
Pickleball may be the fastest-growing sport in the United States, but when it comes to going fast, auto racing
wins the prize. While most people have heard of the Indianapolis 500 and the Daytona 500, it’s the small local tracks where most drivers get their start. And an unusually wet season can make or break a local track.
Vortex’s parametric weather insurance can help protect an entire season or a specific large-gate event. With payouts automatically triggered by the rain and time parameters set within the policy, a rainout doesn’t have to become a budget crisis, allowing local tracks to continue to be a breeding ground for the next generation of racing superstars.
But Vortex weather insurance doesn’t just insure events on the ground. Vortex is taking to the sky, insuring air shows that can be grounded by weather. Vortex’s parametric weather insurance uses hyperlocal rainfall totals, often from the airport where the air show is taking place, to trigger its payouts, which means a cancellation due to weather no longer has to mean a loss of revenue for air show organizers.
“Often, big name flying teams like the Blue Angels have to be booked two years out,” said Andy Klaus, Vice President of Business Development. “Being able to protect that investment in the case of rain can mean the difference between an event returning the next year or not.”
No matter the event, parametric weather insurance helps protect event organizers’ investments with quick payouts when the policy’s parameters are met and include no restrictions on how the payout funds can be used. Event organizers don’t have to prove any damage occurred. If the rainfall, date, hours and location targets are hit, then the policy pays.
Event organizers in the pickleball, racing and air show industries are quickly learning what fair and festival organizers have already discovered. Vortex’s parametric weather insurance can help protect their events from losses due to weather, which helps keep these events returning year after year.
ABOUT VORTEX WEATHER INSURANCE:
Vortex Weather Insurance (dba Vortex Insurance Agency, LLC) is a data-driven weather risk insurtech that offers businesses a variety of affordable parametric weather index insurance products, including commercial supplemental hurricane insurance. Since 2008, Vortex has provided insurance for outdoor events ranging from fairs and festivals, motorsports, youth sports, pickleball events, professional golf tournaments and golf clubs to outdoor theaters and concerts, haunted houses and holiday light events. Insurance is underwritten by Mitsui Sumitomo Insurance USA, Inc. (MSU), admitted in all 50 states and has an AM Best rating of A+ (Superior). Weather or not … Vortex it. Contact us at vortexinsurance.com
Media Contact:
Patrick Moree
Buffalo Groupe
832.294.4041
