ACE USA has introduced WeatherBacker, a new insurance product that provides event promoters with coverage against adverse weather. WeatherBacker pays a stipulated value if excessive rain causes a loss of attendance at events.
The WeatherBacker policy will pay a pre-determined value if rain or other defined weather variables such as wind exceed a defined threshold during the hours of coverage. This insurance product will benefit event promoters at locations such as theme parks, golf courses, sports stadiums, film locations, county fairs and conferences. This product may also be used by municipalities and government entities planning fireworks displays for the Fourth of July and is available in all 50 states.
WeatherBacker will be marketed through both retail and wholesale insurance brokers. For more information, please contact Ravi V. Nathan, ACE Global Weather at (215) 640-4528 or e-mail: ravi.nathan@ace-ina.com.
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