Weather insurance offers financial protection against losses that may be incurred as a result of adverse, measurable weather conditions.
Premiums are determined by the probability of occurrence of the insured weather event and the size of the potential loss.
Conventional weather insurance usually covers unlikely weather events, including hurricanes, earthquakes, and tornadoes.
Protection against meteorological events with a high probability can be provided with the help of weather derivatives, a financial tool for hedging the risk of losses associated with the weather.
Accident insurance covers claims for injuries sustained during the term of the insurance policy, even if they are filed after the cancellation of the policy.
A co-insurance waiver clause refers to language in an insurance policy that sets out conditions under which policyholders must not pay part of a claim.
Performance Based Management (ABM) is a means of analyzing a company’s profitability by looking at every aspect of its business to determine its strengths and weaknesses.
ASO-based self-financing plans are common among large firms because they can spread the risk of costly claims over a large number of employees and dependents.
Comprehensive loss insurance is designed to protect an employer that is self-funding its employee health plan from higher-than-expected claims payments.