Weather & Contingency
Weather & Contingency is the Business Line of Satec Underwriting dedicated to underwriting coverage linked to weather & contingency risks. Among the pecuniary losses, weather & contingency risk are special and tailor-made coverages that differ from the traditional concept of insurable risks.
Customer profile
The Clients to whom we offer professional and tailor-made solutions to cover Weather & Contingency Risks are companies, individuals or entities, which may suffer pecuniary losses due to the occurrence of the most various and adverse events that may affect the success of their business.
The business sectors that may be interested to these solutions are:
Tourism and leisure:
Hotel facilities;
Ski areas and ski lifts;
Bathing facilities;
Amusement parks, water parks and adventure parks;
Outdoor swimming pools;
Leisure & Entertainment:
Event and concert organization agencies
Cultural associations and tourism promotion
Sports associations and Golf clubs
Mass market retailers and commercial promotion:
Department stores
Large retailers and wholesalers
Marketing and communication agencies
E-commerce agencies
Dealers
Agriculture and Livestock Sector:
Consortia and farms;
Wineries;
Food and wine companies;
Livestock farms
Offered covers
Turnover stabilization
It guarantees the stabilization of the turnover exposed to potential adverse weather conditions. It covers the economic losses deriving from the occurrence of an adverse weather event during a certain period.
Events cancellation
compensation for economic losses due to cancellation, interruption, reprogramming or transfer of the Event determined by:
unforeseen and unpredictable causes, force majeure (including Terrorism);
failure to appear the main protagonist of the event;
adverse weather conditions that do not allow the event to be carried out or set up safely.
Pluvious Event
compensation for the decrease in the turnover of an event following adverse weather events (rainfall or temperatures).
Promotion
allows Companies to carry out B2B or B2C commercial promotions protecting the customer from possible financial losses deriving from the occurrence of the event (including meteorological) related to the commercial promotion.
Over Redemption
covers the Insured from the risk that the success of a promotion exceeds expectations and exceeds budget forecasts. This is a cover that intervenes in case of unexpected success of commercial initiatives (such as competitions, coupons, discounts etc.).
Prize Indemnity
has the purpose of indemnifying the company for the contractually guaranteed amount in the event that the insured event occurs, or a certain target is reached (example: basket from midfield).
Key services
Satec Underwriting can offer its customers:
- Experience: Satec Underwriting was the first agency to offer innovative insurance coverage in Italy linked to weather conditions.
- Personalized insurance solutions tailored to each risk. The customer’s needs are analysed, helping him to choose the solutions necessary for his needs, defining a tailor-made coverage.
Access to international markets thanks to consolidated experience and long-term knowledge of the market.
