Natural disasters are increasing in frequency and severity, bringing with them unprecedented challenges for chemical companies. Direct physical damage from severe weather events, earthquakes, wildfires, and other catastrophes can bring operations to a halt. Even companies that do not suffer physical damages often have to deal with sizable financial losses.
Parametric solutions can enhance your risk-mitigation toolbox by supplementing your existing traditional insurance portfolio, filling coverage gaps that can leave your company vulnerable in the event of a catastrophic event. These underinsured or uninsurable risks include indirect financial loss, deductibles or exclusions, and non-damage business interruption. Plus, the quick payouts feature of parametric solutions can enhance your company’s liquidity, reduce revenue volatility, and enable investment in post-loss priorities, such as aiding affected employees.
On Tuesday, June 8th, 2021 Marsh hosted a complimentary one-hour webcast — Providing Chemical Companies with More Comprehensive Coverage via Parametric Solutions. Visit the page to view a replay of the webcast and to learn more.
We encourage you to explore this page dedicated to helping chemical companies understand their increased risk of exposure from natural disasters and how parametric solutions can provide them with comprehensive coverage enabling them be more resilient and minimizing their financial losses.