Demex Group launches parametric snow insurance

The Demex Group is announcing the launch of snowfall insurance underwritten by Evanston Insurance Company , a subsidiary of Markel.

The coverage delivers climate resilience by addressing volatility stabilizing operational budgets that are linked to snowfall.

“Unpredictable volatility creates significant challenges for commercial property owners, facilities managers, municipalities, and snow removal contractors alike. These businesses are particularly vulnerable. Winters with unexpectedly heavy snowfall boost cost for some and years with little snow destroy revenue for others. Snow insurance serves as a shock absorber for snow-sensitive businesses.” – Carlos A. Oliveras, Head of Insurance at Demex.

Demex’s Snow Insurance has two unique functions:

• Demex Revenue Protection Insurance is created for snow removal contractors and snow-dependent businesses. Claims are triggered when snowfall is extremely low.
• Demex Cost Control Insurance serves property owners, facility managers, and municipalities. Claims are triggered when snowfall is extremely high.