What is rain insurance?
Rain insurance is an insurance product that provides organizers to protect the event in a circumstances where rain or snow breaks this event. The insurance contract will apply to any losses, as well as expenditure related to the event. Rain insurance will be purchased for specific time windows and are available from various insurance companies. The principle must usually be purchased at least two weeks in advance and the policy must include the amount of policy to be paid if it rains. The cost of such policy varies depending on the location and timing of the event. For internal events, serious weather may also be deterrent, because people may not want to go to the event. When the weather interrupts the event, people suffer from a loss of income from walking because fewer people visit. In addition, they lose their expenses for promotion and rental of equipment, hiring staff and so on. Rain insurance compensates for both forms of losses.
Rain insurance can ensure complete accumulation of the rain in the specified period. It can also be structured in the form of policy without rain or drought, which measures precipitation per hour to determine whether the threshold values in politics are determined. With the dry policy, if it rained in the morning at the event, but not again, politics would not take place because it would be several dry hours. People can choose between a variety of rain thresholds when buying a policy.
The event may not be canceled to make rain insurance insurance. This allows the organizers to recover some of their losses and also avoid liabilities associated with canceling, such as the need to repay the ticket holders. Separate insurance contracts must be canceled for rain and other reasons.
For some insurance contracts on the rain, a rain breakup will be placed at the event and monitors the neutral third party. Others rely on messages from the VláAgency's days that monitor weather conditions such as the National Meteorological Service in the United States. People can also use reports of unusual weather to strengthen the claim against rain insurance policy if the insurer attempts to deny the claim that the conditions in the insurance have not been met.