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.
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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.
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.