Parametric Insurance for the Construction Industry

Discover how parametric insurance offers innovative solutions for the construction industry, effectively addressing risk transfer challenges and bridging coverage gaps.

The construction industry is particularly susceptible to the impacts of severe weather and natural catastrophes that can result in significant delays and disruptions to project timelines. Climate change also exacerbates these risks, with extreme weather events becoming more frequent, severe, and unpredictable.

Descartes’ parametric insurance safeguards construction projects against weather-related and disaster impacts.

Our parametric policies provide coverage against physical damage stemming from a natural catastrophe event such as a cyclone, hailstorm, tornado, or earthquake, as well as adverse weather conditions that affect project timelines, such as rainy days or extreme temperatures impeding work. With variable limits tailored to adapt to shifting project timelines and values, our solutions can stand alone or seamlessly complement existing insurance coverage to bolster overall capacity. 

Even in the most exposed regions, Descartes delivers fresh capacity and unparalleled flexibility to contractors, lenders, developers, and project owners. 

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Our case studies are all over the world

Utilizing Machine Learning and real-time monitoring from satellite imagery & IoT, our state-of-the-art technology helps businesses bounce back faster against climate, cyber and other emerging risks.

  • Oceania Construction Earthquake Parametric Earthquake Insurance for New Zealand See the case study
  • Global Construction Excessive Rain Protection Against Adverse Weather for the Construction Industry See the case study
  • Asia Renewable Energy Earthquake Supporting Renewable Energy Projects Against Earthquake Risk See the case study
  • Oceania Hospitality Flood Corporate Flood Insurance – A Proven Solution in Australia See the case study
  • North America Renewable Energy Hail Descartes’ Alternative Risk Transfer Solution for Solar Industry See the case study
  • North America Public sector Hail Parametric Insurance Protecting Universities from Severe Hail Damage See the case study

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