Key Challenges for the Region
Severe convective storms causing widespread damage across large geographic areas
Revenue shortfalls impacting economic independence and community operations
Damage to cultural landmarks, visitor centers, and heritage sites not fully covered by traditional insurance
Key benefits of parametric insurance
Transparent Terms
Policies are built on measurable triggers—like rainfall or temperature—so clients and their brokers know exactly when payouts occur. No fine print, no ambiguity.
Fast, Predictable Payouts
Once a triggering event occurs, payment is issued quickly and automatically—no need for on-site assessments or lengthy claims processes.
Customized Coverage
We work closely with brokers to build each policy around the client’s specific risk and budget profile, providing protection where traditional insurance often cannot.
Flexible Use of Funds
Payouts are based on the severity of natural events occurring, not solely on proven losses, giving clients immediate access to funds and empowering them to cover any type of financial loss, not just for physical damage.
Tornadoes are a recurring and destructive peril in Oklahoma, often impacting large areas in a matter of minutes. For Native Nations, these events can disrupt economic activity, cultural preservation, and essential community services.
Descartes’ Parametric Tornado Insurance: EF Scale Protection With Swift Payouts
Descartes’ EF Scale Tornado cover provides rapid, transparent financial protection when tornadoes strike insured locations. Payouts are triggered based on the Enhanced Fujita Scale classification, enabling communities to access immediate funds without waiting for on-site loss assessments.
case study example
Parametric Tornado Solution for Native Nations in Oklahoma
A Native Nation in Oklahoma faced significant disruption following a damaging tornado event.
Problem
A Native Nation in Oklahoma was impacted by an EF-2 tornado. The local government realized that their traditional insurance policy provided insufficient coverage for property damage across wide areas, including visitor centers and cultural landmarks. As a result, repairs were delayed, postponing the reopening of centers and historical sites. The extended closures disrupted community engagement, reduced visitor traffic, and led to increased financial losses.
Solution
To address this coverage gap, the Native Nation relied on Descartes’ EF Scale Tornado parametric insurance. Once the insured location was hit, the policy triggered a swift payout based on the pre-agreed EF Scale payout structure, enabling the community to resume operations without unnecessary delay.
Result
For this event, with an aggregate limit of $20 million, an EF-2 tornado would trigger a 60% payout, resulting in a $12 million payout to support repairs, reopening efforts, and financial recovery.
Contact Us
Whether you're quoting a complex risk, looking to break into new markets, or just curious about parametric insurance, our team is here to help you win. Reach out and we will get back to you within 48 hours.
