Example: Cyclone insurance
An airport in Key West is looking for an insurance solution against a potential cyclone that could lead to not only property damage but also to a decline in passenger traffic and increased operating costs.
Pain point: high level of deductibles of traditional coverage and Non-physical Damage Business Interruption exclusions.
Our solution
AXA Climate Cyclone insurance product enables fast repairs and financial stability following a tropical cyclone.
What we offer
Rate on limit (purely indicative): 2-5%.
Real life example
Hotel chain in Gulf of Mexico
Risk: cyclone.
Trigger: cyclone category 3/4/5 passing within a 60-mile circle around each location.
Limit: $15m.
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