Vortex Weather Insurance has launched RainSure, the first parametric escalator rain insurance product that pays out from just 0.01 inch of rain.
Unlike traditional rain insurance policies that only pay out once rainfall exceeds a set threshold, RainSure ensures policyholders receive incremental payouts for every 0.01 inch of rain up to a 0.25-inch, 0.5-inch, or 1-inch limit, depending on the coverage chosen.
This innovative approach allows event organisers to secure protection even from the smallest rainfall, reducing financial risk and providing peace of mind.
“RainSure helps protect your event from any amount of rain, even small amounts,” Vortex Weather Insurance lead weather index insurance producer Andy Klaus said. “No more worrying about whether the rainfall that is creating losses will be enough to trigger a payout. If it’s just one one-hundredth of an inch, you get paid.”
RainSure offers three versions of coverage, each designed to escalate payouts as rainfall increases, making it ideal for outdoor events where light rain might not have a major impact, but heavier or prolonged rainfall could result in significant losses.
Payouts are triggered automatically once rainfall exceeds a trace amount (0.01 inch), measured by independent third-party WeatherWorks, which has over 20 years of experience providing precise local rainfall data.
Like all of Vortex’s parametric policies, RainSure does not require proof of loss or inspections to issue a claim. This ensures that policyholders receive payments quickly, allowing them to respond to weather-related financial impacts without delays.
“RainSure offers our clients a new level of protection,” Klaus said. “In covering outdoor events, it’s known that the more rain that falls, the higher the losses. With RainSure, you can get coverage that recognises that fact and pays out more as the amount of rain goes up.”
“One of the best things about parametric weather insurance is that it doesn’t take long to get money into the policy-holder’s hands, and RainSure is no exception,” Klaus added. “Because the policy doesn’t require proof of loss to pay out, it’s a really simple process. Clients can ‘RainSure’ their outdoor events and receive a guaranteed claim for any measurable amount of rain.”
Keep up with all the latest FinTech news here
Copyright © 2025 FinTech Global
