Excess Snowfall Accumulation

Navigate the financial challenges of heavy snow accumulation with our customized excess snowfall solution
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Overview

Heavy snowfall can create challenges for businesses dependent on specific weather conditions. Arbol's parametric coverage for excess snowfall accumulation offers customized protection against revenue losses from unusually high snowfall.

Available

All 50 U.S. states

Who can benefit
  • Construction companies
  • Property management firms
  • Transportation companies
  • Retail businesses

How it works

Using ERA5 snowfall data, a coverage trigger can be set based on a business's needs and risk exposure. If cumulative snowfall surpasses the threshold during the policy period, the insured automatically becomes eligible for a loss payment, helping to cover costs and maintain profitability despite challenges from excess snowfall.

An example structure

For informational purposes only. Actual coverage may vary by carrier.
Context

Local municipalities have strict budgets which include services for the community such as snow removal. If a winter season results in a much higher than normal snowfall accumulation, the municipality will be at risk of not being able to pay for snow removal services. To ensure there is financial relief in the event of an abnormally high seasonal snowfall accumulation the municipality can purchase a parametric insurance policy.

Contract structure
Client
Municipality
location
Salt Lake City, Utah
peril
Excess Snowfall
full limit recovery
150 inches
Payouts Based on
Cumulative Snowfall
limit
$100,000
payout table example
x% for Cat 3 within 30 miles
y% for Cat 4 within 20 miles
z% for Cat 5 within 10 miles
Daily threshold
limit paid at
payment per inch
$2,000
time period
12/1 - 3/31
Coverage trigger
100 inches
data source
National Hurricane Center
Payout profile

Next steps

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© 2023 Arbol Inc. All rights reserved.

Climate Risk Insurance Solutions LLC, doing business as Arbol Insurance Services, and operating in New York under the name Arbol Insurance Services LLC (“Arbol” or “AIS”) is licensed as a property casualty and surplus lines insurance agency in all states in which insurance is offered and such licenses are necessary to offer this insurance. All descriptions or highlights of the insurance being provided are for general information purposes only, do not address state-specific notice or other requirements, and do not amend, alter, or modify the actual terms or conditions of an insurance policy. Availability and qualification for coverage, terms, rates and discounts may vary by jurisdiction. Our state license numbers can be found here. AIS does not solicit from the public. Any carrier ratings contained herein are as of 7.18.23. A.M. Best ratings are under continual review and subject to change. Current ratings can be found at www.ambest.com.