Venture Programs is pleased to offer a quick, easy and hassle-free way to provide weather insurance quotes, including Rain and Supplemental Hurricane coverage across various industry segments.
Discover peace of mind with our Rain and Supplemental Hurricane Weather Insurance products – tailored for clubs, charities and for-profit businesses that host golf tournaments, special events and outdoor activities.
WHAT IS WEATHER INSURANCE?
Venture provides Weather Insurance to help protect policyholders from lost revenue or increased expenses caused by adverse or abnormal weather. This can include excessive rain, snow, and even heat.
Policies are written explicitly for a location’s weather risks and we allow the policyholder to choose the duration of coverage (from 1 day up to 1 year) with limits tailored to the club or businesses’ needs (to cover lost revenues or cost of expenses).
HOW DOES IT WORK?
The address of the event is the primary basis for all quotes, and we utilize historical weather information based upon this location. You receive an online, bindable quote in minutes. If you need guidance, our experienced Weather Insurance team can help you build a policy based on your needs and budget. Coverage is immediate except for hurricane supplemental insurance which has a 30-day waiting period.
HOW IS IT MEASURED?
Weather is measured using data from the National Oceanic and Atmospheric Administration (NOAA) entities including the National Weather Service and the National Hurricane Center. Additionally, measurements can be made by an approved independent observer.
WHEN IS IT TRIGGERED?
Your policy is automatically triggered when the parameters you selected are met. You are notified of the triggered event and your claim is paid within 2 weeks of the event. There’s no need to report a claim or prove damages.
WHAT WEATHER CAN BE INSURED?
Our Weather Insurance policies can insure for an individual case or combination of:
Rain insurance provides businesses and organizations with a cost-effective solution, starting at $250, to mitigate financial losses due to adverse weather conditions.
We also offer Supplemental Hurricane Insurance for organizations along the Gulf and eastern US coastlines. Our Supplemental Hurricane Insurance works in partnership with existing policies, mainly by covering gaps left in place by a traditional P&C policy.
For example, even if there’s no damage to a club’s physical location, hurricanes (and their aftermath) can make it difficult for clubs to conduct business operations as usual, and that’s where we step in.
All it takes is a hurricane track of a Category 3 (or higher) storm to pass through either a 20-mi single circle or 20/40-mi double circle coverage area of the club’s location, and your policy is triggered. Payments increase with storm intensity and proximity to the club.
Claim payments are typically mailed within two weeks. Payouts can be used to pay vendors and employees, cover lost revenues, take care of initial clean up around the club facility and more. And it couldn’t be easier…
- No proof of damage
- No financial records
- No adjusters
- No inspection
- No financial deductible
Policy Coverage Dates – Payout Schedule
For double radii policies, one loss payment per storm is calculated using the larger of the two applicable percentages which represents a portion of the aggregate limit stated above. For single radius policies, only the 20-mile payout schedule applies. Distance is expressed in statute miles.
|Loss Payment (%)