Nuts & Bolts: NIF Weather Risk Management, a division of NIF Group Inc. of Manhasset, N.Y., introduced a new series of financial weather products for companies and municipalities in all 50 states. The coverage is priced based on deviations from expected or ideal weather conditions. It pays in stipulated or incremental values as financial protection against non-catastrophic weather. The product is designed as a method to price, bind and settle financial weather risk. The groups targeted to this coverage are retail, construction, leisure, agriculture, transportation, manufacturing and event planning risks. Products underwritten by several markets.
Dollars: Targets accounts of $5,000 and above. Limits of insurance start at $50,000.
Carrier: Financial institutions and reinsurers.
States Available: All states.
Contact: Dan Parker, (908) 508-9699, ext. 13, or dparker@nifgroup.com.
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