Agency unveils parametric rain coverage

Vortex Weather Insurance, operating as Vortex Insurance Agency, announced on Thursday the launch of RainSure, a parametric rain coverage designed for small and medium-sized businesses.

RainSure provides incremental payouts for recorded rainfall starting from one-hundredth of an inch up to thresholds of 0.25 inch, 0.5 inch, or 1 inch, as selected by the policyholder.

Policy limits from $10,000 to $500,000 are available, and coverage is backed by Mitsui Sumitomo Insurance USA. The minimum premium is $250.

Rainfall amounts are measured through WeatherWorks.