Daily Insurance Industry News
Daily Insurance Industry News
Monday 24th of September 2018
April 30, 2009

WeatherBill secures “Taste of Antwerp” contract

by Gill Montia

Story link: WeatherBill secures “Taste of Antwerp” contract

US firm, WeatherBill, has secured a contract to provide weather coverage for a major event in Belgium, due to take place in August.

“Taste of Antwerp” is the country’s largest outdoor culinary festival, involving 25 renowned chefs and caterers.

The event relies on day-of-attendance revenue and under the terms of the agreement, WeatherBill will pay the organisers if it rains more than 9.7mm per day during the event dates.

The cover, which is also available in the UK, is non-insurance based and therefore requires no proof of loss or claims process, as payment is based entirely on weather data.

In this case, rainfall will be measured at the official weather station in Antwerp Deurne.

WeatherBill claims to offer the only weather coverage that can be customised online or over the phone to protect event revenue.

The firm, which is backed by weather risk and catastrophe reinsurance fund manager, Nephila Capital, recently announced the launch of WeatherBill White Label.

The new platform is described as a complete technology solution that powers branded third party weather insurance and has the capacity to automate weather coverage pricing, transaction processing, and risk management functions, while at the same time providing automated client, broker, and internal sales applications.


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