PARAMETRIC INSURANCE AGAINST LOW REVENUE IN CASE OF COOL SUMMER

WHAT IS COVERED ?

All kind of financial losses that result from the occurrence of covered events: 

• Loss of revenue

• Additional selling costs

HOW DOES IT WORK ?

Inception

​

• [Jola & Client] Definition of cover parameters : coverage period, reference weather stations, covered events, associated damage ratios

• [Jola & Client] Definition of the capital insured and the deductible

• [Jola & Client] Selection of the insurance company

• [Assureur & Client] Signature of the contract and payment of the premium at least 15 days before the start of the coverage period

​

At the end of the coverage period

​

• [Jola] Collection of weather data

• [Jola] Calculation of the damage ratio from weather data and contract parameters

• [Jola] Calculation of the indemnity that could be claimed by the insured

• [Jola] Sending the calculation report to the Insurer and the Insured

• [Jola] Sending the pre-filled notice of loss to the Insured

• [Client] Signature of the notice of loss

• [Jola] Sending the notice of loss signed by the Insured to the Insurer

• [Assureur] Payment of the indemnity

HOW MUCH DOES IT COST ?

• The insurance premium depends on the contracts parameters

• Typically between 0.5% and 1.5% of the revenue insured

• Exemple

Request a personalized quote

ABOUT US

Jola is an independent risk management consultant and insurance broker with strong expertise in weather risk management and parametric insurance structuration. 

​

Jola is a French "Société par Actions Simplifiée" with variable capital of 5.000 €, which registered office is at 74 A rue Lecourbe, 75015 Paris - France. Jola is registered in the Paris Trade and Companies Register under number 834 358 111. Jola is registered in the French registry of insurance intermediaries under number 18 007 161. Jola benefits from the free provision of services across the EU and is therefore authorized to distribute insurance to all clients in the European Union.