Nuts & Bolts: NIF Weather Risk Management, a division of NIF Group Inc. of Manhasset, N.Y., introduced a new series of financial weather products for companies and municipalities in all 50 states. The coverage is priced based on deviations from expected or ideal weather conditions. It pays in stipulated or incremental values as financial protection against non-catastrophic weather. The product is designed as a method to price, bind and settle financial weather risk. The groups targeted to this coverage are retail, construction, leisure, agriculture, transportation, manufacturing and event planning risks. Products are being underwritten by several markets.
Dollars: Targets accounts in $5,000 and above. Limits of insurance start at 50,000.
Carrier: Financial institutions and reinsurers.
States Available: All.
Contact: Dan Parker, ( 908) 508-9699 ext. 13, or dparker@nifgroup.com
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