What is the Definition of Weather Insurance?

What is the Definition of Weather Insurance?

A type of business income insurance that compensates for financial losses caused by adverse weather conditions, such as constant rain on the day scheduled for a major outdoor  concert.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Annuity?

What is the Definition of Weather Insurance?

You can find random definition and meaning of insurance terms below:


What is the meaning of Fidelity

a bond or policy covering an employer's loss resulting from an employee's dishonest act (e.g., loss of cash, securities, valuables, etc.).


What is the meaning of Financial Guaranty

a surety bond, insurance policy, or an indemnity contract (when issued by an insurer), or similar guaranty types under which loss is payable upon proof of occurrence of financial loss to an insured claimant, obligee or indemnitee as a result of failure to perform a financial obligation or any other permissible product that is defined as or determined to be financial guaranty insurance.


What is the meaning of Financial Reporting

insurance companies are required to maintain records and file annual and quarterly financial statements with regulators in accordance with statutory accounting principles (SAP). Statutory rules also govern how insurers should establish reserves for invested assets and claims and the conditions under which they can claim credit for reinsurance ceded.


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