Pickleball Clubs, Air Shows, and Auto Racing Events Join Growing List of Industries Served
OVERLAND PARK, Kan., Oct. 15, 2024 — As rain storms become increasingly severe and frequent across the nation, rain insurance has become essential for organizers of fairs, festivals, golf tournaments, and concerts. These businesses are increasingly relying on Vortex Weather Insurance for protection during their outdoor events. However, Vortex’s parametric insurance reaches far beyond these traditional sectors.
From pickleball courts to racetracks and the skies above, event organizers are recognizing the advantages of parametric weather insurance to safeguard their events.
Outdoor pickleball events frequently encounter weather issues. Recently, Vortex participated in PickleCon, a multi-day celebration of all things pickleball held in Kansas City, Mo., to discuss the unique needs of pickleball event organizers and enthusiasts. With several pickleball tournaments happening outdoors, organizers were eager to discover how parametric rain insurance could secure their financial investments.
“People jumped on it for big events,” shared Eric Anderson, Director of National Sales. “The pickleball club owners and event organizers are enthusiastic about using our rain insurance to protect their anticipated revenue from potential losses due to rain, seeing it as an ideal fit.”
While pickleball may be rapidly growing in popularity within the United States, auto racing holds the crown when it comes to speed. Most are familiar with renowned events like the Indianapolis 500 and the Daytona 500, but it is at smaller local tracks where many aspiring drivers begin their journeys. Unfortunately, an unusually wet season can threaten the future of these local venues.
Vortex’s parametric weather insurance can protect either an entire racing season or specific high-attendance events. With payouts triggered automatically by specified rain amounts and timeframes within the policy, rainouts don’t have to escalate into financial disasters, allowing local tracks to continue nurturing the next wave of racing talent.
Furthermore, Vortex weather insurance extends its protective reach to the sky, covering air shows that may need to be postponed due to inclement weather. By utilizing hyperlocal rainfall data, often collected from the nearest airport to the air show venue, Vortex can initiate payouts without the need for event organizers to demonstrate damage from weather cancellations.
“Booking prominent flying teams like the Blue Angels often requires a two-year lead time,” explained Andy Klaus, Vice President of Business Development. “Having the ability to insure that investment against rain can be crucial in ensuring the event’s viability in subsequent years.”
Regardless of the event type, parametric weather insurance provides rapid payouts to event organizers when predetermined criteria are met. There are no stipulations on the usage of payout funds, simplifying the process for organizers. If the predefined rainfall, date, hours, and location conditions are fulfilled, the policy pays out without hassle.
Event organizers in the realms of pickleball, racing, and air shows are quickly understanding what those in fairs and festivals have already discovered. Vortex’s parametric weather insurance effectively shields their events from weather-related losses, ensuring these celebrations continue year after year.
