Parameter Climate files trademark for WeatherDay

Parameter Climate, the company behind Parameter Risk Solutions , filed a US trademark application for the WeatherDay name on July 9. The application covers weather insurance brokerage, consulting and weather-related financial risk management.

New York-based Parameter Risk Solutions is developing parametric weather insurance for the commercial construction industry.

Its core product, WeatherDay, is designed to cover financial losses from weather-related project interruptions that do not involve physical property damage.

According to the company’s website, its ClimateDelta platform monitors weather conditions during a project and calculates settlements when a covered threshold is exceeded.

WeatherDay can cover individual projects or portfolios and can be placed through carrier relationships or structured within a captive. Portfolio programs are designed to allow contractors and owners to add projects without renegotiating the master arrangement.