FLOW: Water-Level Insurance
FLOW is an index-based water-level insurance, customised for companies with revenues and costs exposed to rivers' high or low water levels in Europe
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How FLOW insurance works
Swiss Re Corporate Solutions' experts structure an index formula which references to measured water levels at defined river gauges. The customised index approximates the client's water level exposure regarding revenues and costs as close to the reality as possible.
Coverage
Each FLOW contract is customised to the individual water level exposure of the client. The payout is a fixed amount, e.g. per day the index remains beyond the defined threshold value. The payout amounts are determined by looking at a number of factors, including but not limited to:
- Loss of revenue due to business interruption
- Increased cost of operation
- Extra expenses to mitigate the situation or to establish alternatives
- Expenses not covered by traditional insurance policies, if any
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Term: |
up to three years |
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Capacity: |
up to USD 50m |
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Payout: |
within 21 days of triggered coverage |
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Condition: |
written confirmation by the policy holder of a loss sustained |