Parametric Insurance for Hospitality and Tourism

Diversify your risk protection with our parametric insurance solutions for hospitality and tourism, providing protection against the full exposure of natural disaster risks, such as property damage and business interruption.

Natural disaster events occurring at or near a hospitality business can result in lasting financial impacts. Property damage may force closures or reduce occupancy, while disruptions to the surrounding area can deter tourism. Although some businesses may receive compensation for physical damage, those facing higher business interruption losses or non-physical contingent losses due to decreased tourism are often subject to a significant protection gap.

Descartes' parametric solutions provide a comprehensive hedge against property damage, as well as mitigating the risk of business interruption and occupancy drops.

We provide tailored coverage designed to mitigate risks posed by natural perils like earthquakes, tropical cyclones, wildfires, and flooding. Without necessitating physical damage as a coverage condition, our tailored, event-based approach ensures predefined compensation upon the occurrence of an insured event. This streamlined process facilitates swift indemnification, expediting the recovery process for rebuilding or providing crucial financial support during periods of low customer visitation. 

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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.

  • North America Hospitality Wildfire Parametric Wildfire Insurance for California See the case study
  • Asia Hospitality Tropical Cyclone Parametric Insurance Against Typhoon for a Hospitality Group See the case study
  • North America Hospitality Tropical Cyclone Unparalleled Descartes’ Protection Against Hurricanes See the case study

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