Vortex Insurance Archives - The Golf Wire https://thegolfwire.com Covering the business of golf! Wed, 22 May 2024 23:43:34 +0000 en-US hourly 1 https://wordpress.org/?v=6.1.1 NEW GUEST CHECKOUT MEANS DIRECT ACCESS TO SUPPLEMENTAL HURRICANE AND HOURLY RAIN INSURANCE https://thegolfwire.com/weather-insurance-portal/ https://thegolfwire.com/weather-insurance-portal/#respond Wed, 22 May 2024 19:35:12 +0000 https://thegolfwire.com/?p=156242 OVERLAND PARK, KS – Just in time for hurricane season, Overland Park, KS- based Vortex Weather Insurance releases a new...

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OVERLAND PARK, KS – Just in time for hurricane season, Overland Park, KS- based Vortex Weather Insurance releases a new guest checkout enhancement to its fully- automated weather insurance portal,making the process even faster and easier for users. This is a major improvement to the insurtech’s already innovative portal, greatly benefiting small businesses who need fast coverage and don’t currently work with anagent.

Launched in 2023, Vortex’s Weather Insurance Portal is an industry-leading digital insurance platform that allows event organizers, small business owners, and insurance brokers to quote and bind rain andsupplemental hurricane insurance policies online in just minutes.

The portal expedites the underwriting process for parametric weather insurance and offers a seamless user experience from creating quotes, tracking rates, and binding policies on the spot. To generate a rain insurance quote almost instantly, event organizers and small business owners simply enter:

  • the business name and address
  • event location
  • event date and time(s)
  • the amount of revenue to insure

The user is presented with rainfall threshold options and premiums they can choose to purchase that best fit theneeds and budget of the event. If the recorded rainfall meets or exceeds the policy’s selected rainfallthreshold, it triggers a claim. Cancellation is not required for a payout to occur.

Supplemental hurricane insurance quotes require:

  • the business name and address
  • the amount of revenue to insure (you do not have to insure to value)
  • size of the coverage circle the policy owner wants around the business (20 or 40-mile circle)

If the recorded storm track of the hurricane’s eye crosses into the policy’s coverage area, it triggers a claim.

Registered account holders can login and check for updates should a claim be triggered. The claims and settlement processes are automated and transparent. Claim checks are usually mailed in about twoweeks.

Vortex’s new guest checkout feature allows the user to quote and bind a policy without registering for an account.The policy documentation and payment receipt are emailed to the purchaser. Should a claim trigger, Vortex will simply notify policyholders of claims and payment status via email.

“We are thrilled to have a Guest Checkout feature now available,” said Vortex VP of Business Development AndyKlaus. “We’ve designed the portal to be very user friendly and intuitive for event organizers and small business owners, so quoting and purchasing can be completed in just a few minutes without the user ever speaking with an agent. We’re available to answer any questions but understand that many customers simplydon’t need assistance.”

The portal has been a game changer for events and small businesses looking to quickly and easily secure coverage that fits their needs and budget. With spring well under way and rainy weather a common occurrence, hourly rain insurance is a critical consideration to the success of any outdoor event.

And with hurricane season officially starting June 1, more and more businesses near the Gulf and Atlantic coastlines are shopping for annual supplemental hurricane insurance policies.

Experts are predicting an “extremely active” hurricane season, and now is the time to find wind/hail and hurricane coverage. Vortex’s Supplemental Hurricane Insurance works to fill gaps traditional policies leave behind. Payouts are based on the recorded track of a major hurricaneand its proximity to the insured’s location.

The release of this new functionality aligns perfectly with the busy season for the majority of Vortex clients. Sincelaunching the portal, over 1500 uniquely structured hourly rain and hurricane quotes have been created. Vortex anticipates continued heavy use of the portal’s guest checkout feature as more businesses prepare to protecttheir revenue this year.

ABOUT VORTEX:

Vortex Weather Insurance (dba Vortex Insurance Agency, LLC) is a data-driven weather risk insurtech that offers businesses a variety of affordable parametric weather index insurance products, now including supplemental hurricane insurance. Since 2008, Vortex has provided insurance for outdoorevents ranging from fairs and festivals, motorsports, youth sports, parades, professional golf tournaments and golf clubs to outdoor theaters, haunted houses and holiday light events. Insurance is underwritten by Mitsui Sumitomo Insurance USA, Inc. (MSU), admitted in all 50 states and has an AM Best rating of A+(Superior). Contact us at vortexinsurance.com

CONTACT INFORMATION:
Vortex Weather Insurance Stacy Stephens
913-253-1205
sstephens@vortexinsurance.com

 

 

 

 

 

 

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FLORIDA SMALL BUSINESSES PREPARE FOR AN “EXTREMELY ACTIVE” HURRICANE SEASON https://thegolfwire.com/vortexs-supplemental-hurricane-insurance/ https://thegolfwire.com/vortexs-supplemental-hurricane-insurance/#respond Thu, 18 Apr 2024 19:07:38 +0000 https://thegolfwire.com/?p=154331 OVERLAND PARK, KS  – In Florida, hurricanes pose a big threat to small businesses, and this year, hurricane season is...

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OVERLAND PARK, KS  – In Florida, hurricanes pose a big threat to small businesses, and this year, hurricane season is forecasted to be “extremely active.” Vortex’s Supplemental Hurricane Insurance works to protect those vulnerable coastal businesses by filling the gaps left behind by traditional P&C insurance policies

If you’re an insurance producer or small business owner in Florida, or anywhere along the Gulf or Atlantic coast, you can get an instant quote here

1According to the National Oceanic and Atmospheric Administration, there have been 363 billion-dollar weather disasters since 1980 (as of August 2023). And hurricanes have caused the most damage: over $1.3 trillion total, with an average cost of $22.8 billion per event. These striking statistics further emphasize the importance of planning ahead for hurricane season and protecting what you can as a small business owner. 

Vortex Supplemental Hurricane Insurance is part of Vortex’s suite of seamless and simple parametric weather insurance products, designed to offer weather-related insurance across various industries, including sporting events, fairs, concerts, golf events and seasonal attractions. This product can help agents bolster and diversify their portfolio of product offerings while giving clients the peace of mind they need heading into hurricane season. 

The process for obtaining coverage is simple. Insurance producers and clients can easily create and bind policies that fit their needs and budget in Vortex’s self-service Portal. Insureds or their agents can choose to cover either a 20-mile or a 40-mile radius around the business. Once a policy is issued, Vortex manages everything else, including processing claims. Policies are activated 30 days after payment of premium, so acting early is crucial to having coverage in place before the start of the hurricane season. 

Here’s how it works. If the center of circulation (the “eye”) of a Category 3 or stronger hurricane tracks through the chosen coverage area, a claim is triggered and a payout occurs, usually within two weeks. There’s no need to prove damage or that a loss occurred. Business owners get paid and can use that money towards anything they choose, such as rising deductibles, storm damage, inventory recovery, payroll, etc. In addition, the policy lasts for 12 months and is structured to offer payouts should more than one hurricane cross into your policy’s coverage area within the same policy year, up to the annual policy limit. 

To further understand how payouts are structured, please refer to the chart below. 

Storm track determinations are provided by an independent third party, using storm track and intensity data from NOAA’s National Hurricane Center. Read more about that process in our blog.  

“Over the last few years, we have seen too many businesses hurt from hurricanes in all parts of the country…And I don’t mean just simple cases of property damage,” said Andy Klaus, Vortex’s Vice President of Business Development. “Even when there’s no physical damage, small business owners often struggle to deal with the interruptions in business in the aftermath of the storm. Vortex Supplemental Hurricane Insurance eases these difficulties and can keep businesses from experiencing devastating revenue losses during tough times without the hassle of having to prove damage or loss, and wait for a claim to be processed.

WeatherTiger co-founder and chief meteorologist Dr. Ryan Truchelut explained, “The core uncertainty for the 2024 Atlantic hurricane season is “whether the upcoming hurricane season will be crazy busy, or merely pretty busy.”

Act now to get ahead of the busy hurricane season that officially begins June 1 and help your clients protect their bottom line. Through the Vortex online Portal, business owners or their agents can quote and bind hurricane policies in just a few minutes. Get started with a free quote in our Portal

ABOUT VORTEX WEATHER INSURANCE:

Vortex Weather Insurance (dba Vortex Insurance Agency, LLC) is a data-driven weather risk insurtech that offers businesses a variety of affordable parametric weather index insurance products, including supplemental hurricane insurance. Since 2008, Vortex has provided insurance for outdoor events ranging from fairs and festivals, motorsports, youth sports, parades, professional golf tournaments and golf clubs to outdoor theaters, haunted houses and holiday light events. Insurance is underwritten by Mitsui Sumitomo Insurance USA, Inc. (MSU), admitted in all 50 states and has an AM Best rating of A+ (Superior). Weather or not … Vortex it. Contact us at vortexinsurance.com. 

 
Media Contact:
Patrick Moree
Buffalo Groupe
832.294.4041
pmoree@buffalogroupe.com

 

 

 

 

 

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VENTURE PROGRAMS SELECTS VORTEX WEATHER INSURANCE AS PARTNER TO PROVIDE PARAMETRIC RAIN & HURRICANE INSURANCE TO PRIVATE GOLF CLUBS https://thegolfwire.com/venture-programs-vortex-partner/ https://thegolfwire.com/venture-programs-vortex-partner/#respond Tue, 20 Feb 2024 22:12:22 +0000 https://thegolfwire.com/?p=151790 Agreement marks Vortex’s first MGA agreement with nation’s leading insurer of private clubs and golf properties OVERLAND PARK, KS –...

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Agreement marks Vortex’s first MGA agreement with nation’s leading insurer of private clubs and golf properties

OVERLAND PARK, KS – Venture Insurance Programs, a prominent insurance Program Manager specializing in private clubs, selects Vortex Weather Insurance, a leading insurtech specializing in weather risk management for outdoor venue hosts and golf clubs, to be their sole provider of parametric weather insurance policies. This agreement represents Vortex’s first partnership as a managing general agency (MGA). 

Vortex’s expertise rests in providing customized parametric Rain and Supplemental Hurricane insurance policies to help protect businesses in a variety of industries from lost revenue and increased costs due to adverse weather. Venture is a best-in-class insurance intermediary that works with top-rated insurance companies, independent specialty claims administrators, and strategic partners to help clients better control their exposure to risk. Through Venture, agents, brokers, or their insureds can protect private club events, as well as various outdoor events including concerts, sporting events, races, fairs, holiday and community events, and more. 

Clubs will now have access to Vortex’s parametric weather risk insurance, ensuring that their outdoor events are shielded from potential financial losses caused by adverse weather. A key area of interest for Venture is Vortex’s transparent claims process that issues clients’ claim payments typically within two weeks, offering immediate financial support to insured clubs or charities. 

“We are thrilled to announce this strategic partnership with Vortex Weather Insurance,” said Philip Harvey, Jr., EVP of Operations at Venture Insurance Programs. “This collaboration allows us to provide our agents and brokers with cutting-edge weather insurance for not just their club accounts and charities, but for dozens of outdoor and special events. This not only supports Venture’s commitment to private clubs, but also supports our client brokers seeking weather insurance for other special events.”

“This marks our first MGA partnership and we are excited that it is with a market leader in Venture Insurance Programs as we expand our expertise in weather risk management to the private club sector,” said Eric Anderson, Director of National Sales – Golf at Vortex Weather Insurance. “Together, we aim to empower private clubs with the tools they need to navigate and mitigate the impact of adverse weather conditions on their events and operations.” 

For more information about Venture’s new Rain and Hurricane Weather insurance products, please visit: https://ventureprograms.com/programs/weather-insurance/ 

 

ABOUT VORTEX WEATHER INSURANCE: 

Vortex Weather Insurance (dba Vortex Insurance Agency, LLC) is a data-driven weather risk insurtech that offers businesses a variety of affordable parametric weather index insurance products, now including supplemental hurricane insurance. Since 2008, Vortex has provided insurance for outdoor events ranging from fairs and festivals, motorsports, youth sports, parades, professional golf tournaments and golf clubs to outdoor theaters, haunted houses and holiday light events. Insurance is underwritten by Mitsui Sumitomo Insurance USA, Inc. (MSU), admitted in all 50 states and has an AM Best rating of A+ (Superior). Contact us at vortexinsurance.com

ABOUT VENTURE INSURANCE PROGRAMS:

Venture Insurance Programs is a leading insurance provider specializing in coverage for private clubs, including golf, country, tennis, fitness and social clubs as well as nonprofits and small businesses. With a focus on delivering tailored insurance solutions, Venture is committed to providing agents and brokers with all-lines and best-in-class insurance and risk management services for their insureds.

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PGA SHOW HELPS FINANCIALLY PROTECT ITS DEMO DAY FOR THE THIRD YEAR WITH A VORTEX RAIN INSURANCE POLICY https://thegolfwire.com/pga-show-helps-protect-demo/ https://thegolfwire.com/pga-show-helps-protect-demo/#respond Thu, 18 Jan 2024 21:44:27 +0000 https://thegolfwire.com/?p=150162 Orlando, Florida – The PGA Show Demo Day is a highlight of each year’s annual PGA Show and the Show’s...

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Orlando, Florida – The PGA Show Demo Day is a highlight of each year’s annual PGA Show and the Show’s number-one-rated event. It is also the largest professional Demo Day in the world. During Demo Day, attendees can field test the latest products and technology from dozens of equipment and technology brands.

To aid in protecting their substantial investment of time and resources, Rick Summers, CEO and Chairman of PGA Magazine Group, a co-owner of the PGA Show Demo Day, worked with Vortex Weather Insurance to implement a rain insurance policy for the January 23rd event. “We have purchased rain insurance previously and trust this product. Vortex’s product allows for the right coverage, customization, and pricing to perfectly fit our needs,” said Summers. 

If the rainfall amount hits a certain threshold, the policy will pay out, alleviating any negative impact on the event’s owners from lost revenue or higher costs.

“Events like the PGA Show Demo Day are the perfect candidates for rain insurance,” said Eric Anderson, Vortex’s director of national sales – golf. “A rain insurance policy helps protect the monetary investment in the event, allowing organizers to plan an event without worrying about losses caused by rain.”

The PGA Show Demo Day has kicked off the PGA Show week since 2003, allowing show attendees to try new equipment, watch demonstrations from PGA professionals, view instructional workshops, meet up with old friends, and make new industry connections.

For more information about weather insurance or Vortex’s involvement with PGA Demo Day, contact Eric Anderson at (203) 550-6150 or eanderson@vortexinsurance.com.

 

ABOUT VORTEX WEATHER INSURANCE:

Vortex Weather Insurance (dba Vortex Insurance Agency, LLC) is a data-driven weather risk insurance agency that offers businesses a variety of affordable parametric weather index insurance products. Since 2008, we’ve provided insurance for outdoor events ranging from motorsports, youth sports, parades, fairs and festivals, outdoor theaters, and professional golf to haunted houses and holiday light events. Insurance is underwritten by Mitsui Sumitomo Insurance USA, Inc. (MSU), admitted in all 50 states, and has an AM Best rating of A+ (Superior). You can’t predict the weather, but we can protect your business from it. Contact us at vortexinsurance.com.

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DICK’S SPORTING GOODS OPEN, PGA TOUR CHAMPIONS EVENT https://thegolfwire.com/dicks-sporting-goods-open-vortex-insurance-2/ https://thegolfwire.com/dicks-sporting-goods-open-vortex-insurance-2/#respond Tue, 18 Jul 2023 21:14:33 +0000 https://thegolfwire.com/?p=143088 Receives Payout from Vortex Weather Insurance For the second consecutive year, Vortex Weather Insurance provided a rain insurance policy for...

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Receives Payout from Vortex Weather Insurance

For the second consecutive year, Vortex Weather Insurance provided a rain insurance policy for the DICK’S Sporting Goods Open, a PGA TOUR Champions Event June 23–June 25 at En-Joie Golf Course in Endicott, New York.

The DICK’S Sporting Goods Open is operated by Broome County Community Charities, Inc. (BCCC) and has donated over $19.6 million to charity. Broome Charities’ initial mission focused the 501(c)(3)’s funding toward health care organizations with the goal to assist the greatest number of people within their community.
Irishman Padraig Harrington took home the title for the second straight year, closing with a blistering final round of 63 to secure a one-shot win over Joe Durant.

This year, the DICK’S Sporting Goods Open received rain on two days over the weekend, triggering their rain insurance policy. The insured rain events resulted in BCCC receiving payouts that helped with lost revenue.

“We were fortunate enough to work with Vortex again to help protect our 2023 Tournament week,” said John Karedes, Executive Director of DICK’S Sporting Goods Open. “Turns out, it rained twice over the weekend and our policy was triggered. We received a check in less than two weeks. Even though the tournament endured rainfall on multiple days, we were able to contribute fundraising dollars as planned.

“I want to congratulate the organizers of The DICK’S Sporting Goods Open for not only hosting a great tournament for the golf fans of Central New York but for also making the decision to partner with Vortex again this year,” said Eric Anderson, Vortex Insurance National Director of Sales. “Because of the policy, the organizers went into the weekend with peace of mind. And when the policy was triggered, their instincts were proven right.”

About Vortex Weather Insurance

Vortex Weather Insurance (dba Vortex Insurance Agency, LLC) is a data-driven weather risk insurtech that offers businesses a variety of affordable parametric weather index insurance products, including supplemental hurricane insurance. Since 2008, Vortex has provided insurance for outdoor events ranging from motorsports, youth sports, parades, fairs and festivals, outdoor theaters, and professional golf to haunted houses and holiday light events. Insurance is underwritten by Mitsui Sumitomo Insurance USA, Inc. (MSU), admitted in all 50 states and has an AM Best rating of A+ (Superior). Weather or not … Vortex it. Contact us at vortexinsurance.com.

About Broome County Community Charities, Inc.

Broome County Community Charities, Inc. has been the cornerstone of professional golf in Central New York since the first event was held in 1971. As host of the PGA TOUR’s B.C. Open and Champions Tour DICK’S Sporting Goods Open, Broome County Community Charities has contributed over $19.6 Million to numerous local charities. Our primary charitable recipients are the Lourdes Hospital Foundation and United Health Services Foundation. Additionally, local service clubs such as Rotary, Kiwanis and Lions who assist in the operation of the tournament, have received substantial dollars for their charitable organizations. We are the two-time recipient of the prestigious Presidents Award, the highest honor on the Champions Tour. Our website is www.dsgopen.com. Follow us at Facebook.com/dsgopen on Twitter @Dicksopengolf and on Instagram @dsgopen.

 

 

 

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DICK’S SPORTING GOODS OPEN, PGA TOUR CHAMPIONS EVENT INSURES WITH VORTEX FOR THE SECOND YEAR STRAIGHT https://thegolfwire.com/dicks-sporting-goods-open-vortex-insurance/ https://thegolfwire.com/dicks-sporting-goods-open-vortex-insurance/#respond Wed, 21 Jun 2023 18:48:31 +0000 https://thegolfwire.com/?p=142131 OVERLAND PARK, KS  – For the second consecutive year, Vortex Weather Insurance will provide a rain insurance policy for the...

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OVERLAND PARK, KS  – For the second consecutive year, Vortex Weather Insurance will provide a rain insurance policy for the DICK’S Sporting Goods Open, a PGA TOUR Champions Event June 23–June 25 at the beautiful En-Joie Golf Course in Endicott, New York.

The DICK’S Sporting Goods Open is operated by Broome County Community Charities, Inc. (BCCC) and has donated over $19.6 million to charity. BCCC has been the sponsoring organization of professional golf in Central New York for over 50 years. Established in 1973, Broome Charities’ initial mission focused the 501(c)(3)’s funding toward health care organizations with the goal to assist the greatest number of people within their community. Both the UHS Foundation and Lourdes Hospital Foundation have been primary recipients of annual donations made by BCCC. These contributions are a result of partnerships with DICK’S Sporting Goods, the PGA TOUR, and PGA TOUR Champions players.

A star-studded field is expected at this year’s event, including Retief Goosen, Ernie Els, Miguel Angel Jimenez, Darren Clarke, Bernhard Langer and more, offering golf fans in Central New York a unique opportunity to watch several of the legends of the game up close and personal.

“We are thrilled to partner with Vortex on another rain insurance policy for the 2023 Tournament week,” said John Karedes, Executive Director of DICK’S Sporting Goods Open. “The whole insurance process is so simple and straight-forward. Just like last year, our policy gives us peace of mind knowing that if rain impacts the tournament or any ancillary events, such as Country Superstar Kenny Chesney’s Friday night concert, the financial loss will be manageable. Now, we can focus on our main goal, delivering a first-class event experience for the golf fans of Central New York.”

“Last year’s DICK’S Sporting Goods Open was an absolutely incredible week of golf, entertainment, and hospitality for golf fans in Central New York,” said Eric Anderson, Vortex Weather Insurance National Director of Sales. “And we are honored to partner with them again to provide rain insurance this year.”

 About Vortex Weather Insurance

Vortex Weather Insurance (dba Vortex Insurance Agency, LLC) is a data-driven weather risk insurtech that offers businesses a variety of affordable parametric weather index insurance products, and will soon be launching supplemental hurricane insurance. Since 2008, Vortex has provided insurance for outdoor events ranging from motorsports, youth sports, parades, fairs and festivals, outdoor theaters, and professional golf to haunted houses and holiday light events. Insurance is underwritten by Mitsui Sumitomo Insurance USA, Inc. (MSU), admitted in all 50 states and has an AM Best rating of A+ (Superior). Weather or not … Vortex it. Contact us at vortexinsurance.com.

About Broome County Community Charities, Inc.

Broome County Community Charities, Inc. has been the cornerstone of professional golf in Central New York since the first event was held in 1971. As host of the PGA TOUR’s B.C. Open and Champions Tour DICK’S Sporting Goods Open, Broome County Community Charities has contributed over $19.6 Million to numerous local charities. Our primary charitable recipients are the Lourdes Hospital Foundation and United Health Services Foundation. Additionally, local service clubs such as Rotary, Kiwanis and Lions who assist in the operation of the tournament, have received substantial dollars for their charitable organizations.  We are the two-time recipient of the prestigious Presidents Award, the highest honor on the Champions Tour.  Our website is www.dsgopen.com. Follow us at Facebook.com/dsgopen on Twitter @Dicksopengolf and on Instagram @dsgopen.

 
Media Contact:
B.R. Koehnemann
Buffalo Agency
847.421.4537
bkoehnemann@buffalo.agency

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SUPPLEMENTAL HURRICANE INSURANCE NOW AVAILABLE ONLINE https://thegolfwire.com/hurricane-insurance-golf-courses/ https://thegolfwire.com/hurricane-insurance-golf-courses/#respond Tue, 20 Jun 2023 17:39:48 +0000 https://thegolfwire.com/?p=142039 Vortex offers first-of-its-kind supplemental hurricane coverage for small and medium-sized businesses OVERLAND PARK, KS  – Vortex Insurance, an insurtech leader...

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Vortex offers first-of-its-kind supplemental hurricane coverage for small and medium-sized businesses

OVERLAND PARK, KS  – Vortex Insurance, an insurtech leader in parametric weather insurance, announced today the launch of an innovative insurance program allowing the purchase of supplemental hurricane insurance for portions of the United States threatened each summer with the possibility of severe hurricanes. Unlike traditional insurance, this pioneering product supplies business entities with peace of mind by providing coverage in the event of a Category 3 (or stronger) hurricane. Payouts are provided rapidly, no questions asked, and with no loss adjustment process or large deductibles.

Vortex’s Supplemental Hurricane Insurance covers gaps left by traditional property insurance. Policies are triggered if an insured business is located within a coverage area defined by a 20-mi or 40-mi circle centered upon the business (depending upon the product chosen) when a Category 3 or stronger hurricane tracks within this zone. Business owners can now have peace of mind and rapid assistance when a natural disaster hits, without the hassle of claims paperwork or adjustors. With hurricane season officially underway, Vortex Insurance is pleased to announce that this insurance is now available for purchase through an online portal. With a few simple clicks, policies are issued and available online in minutes.

Vortex has partnered with Speedwell Settlement Services Ltd., a leading provider of settlement data for parametric weather and climate related contracts, to bring this new product to market. By utilizing quality controlled third party data (hurricane storm track and intensity in this case), buyers of this product can have confidence in the independence of the data used to determine a claim payout.

“We’re thrilled to be a part of this innovative product launch.  Parametric products such as these are powerful whereas they bring simplicity, transparency, and speed (payment of benefits) to the small and midsize business insurance market. Here at Speedwell, we have a long history of acting as an independent third party for the certification of weather and climate observations for parametric products. This project is exciting whereas it combines our data expertise with Vortex Insurance innovation to create a product that will truly revolutionize the market,” said David Whitehead, CEO of Speedwell Settlement Services.

“We are delighted to make this product available to businesses along the entire Atlantic coast of the US (from Texas to Maine). Hurricane season began June 1st, so we recommend investing in this supplemental coverage as soon as possible,” said Andy Klaus, Vice President of Business Development. “Over the last few years, so many businesses have been negatively impacted by major hurricanes. And this impact is not limited to property damage. Even if a business experiences no physical damage from a storm, there are countless other business interruptions and financial hardships that can occur during and after the storm passes. Our new supplemental hurricane insurance is designed to minimize these financial difficulties by providing a completely independent, transparent, and quick claims process to help close gaps left behind in most traditional property insurance policies. Recoveries are quick and can be used to begin the rebuilding process or for any other purposes.”

The one-year supplemental coverage is triggered automatically once a Category 3 (or stronger) hurricane passes within a 20 or 40-mi circular region (dependent on your policy) with rapid coverage payouts regardless of whether your business has actually experienced physical damage or loss due to the storm. The stronger the storm is as it passes through this region, the larger the payment once the policy is triggered. This supplemental policy is also structured to offer payouts should more than one triggering hurricane cross into your policy’s coverage area within the same policy year (subject to overall policy limits). Policy owners do not need to prove loss or business interruption.

Vortex Supplemental Hurricane Insurance joins Vortex’s suite of seamless and simple parametric weather insurance products, including weather-related insurance for sporting events, fairs, concerts, golf events and seasonal attractions. For more information on Vortex Supplemental Hurricane Insurance, visit www.vortexinsurance.com/supplemental-hurricane-insurance, watch this video, or send us a message.

About Vortex Insurance

Vortex Weather Insurance (dba Vortex Insurance Agency, LLC) is a data-driven weather risk insurtech that offers businesses a variety of affordable parametric weather index insurance products. Since 2008, Vortex has provided parametric rain insurance for outdoor events ranging from motorsports, youth sports, parades, fairs and festivals, outdoor theaters, and professional golf to haunted houses and holiday light events. Vortex is proud to now offer supplemental hurricane insurance to small businesses. Insurance is underwritten by Mitsui Sumitomo Insurance USA, Inc. (MSU), admitted in all 50 states and has an AM Best rating of A+ (Superior). Weather or not … Vortex it. Contact us at vortexinsurance.com

About Speedwell Settlement Services Ltd.

Speedwell Settlement Services is a part of the Speedwell Climate group of companies which has been providing climate data, software, and other services to the climate risk-transfer market since 1999. Speedwell Settlement is the leading provider of meteorological / climate Settlement Data for parametric (index-based) risk contracts worldwide. For the past decade Speedwell has provided Settlement Data for both over-the-counter weather transactions as well as contracts listed on the Chicago Mercantile Exchange CME).  Speedwell Settlement Services is authorised and regulated by the financial regulator in the United Kingdom, the Financial Conduct Authority as a benchmark administrator. To learn more contact us atwww.SpeedwellSettlementServices.com

 
Media Contact:
B.R. Koehnemann
Buffalo Agency
847.421.4537
bkoehnemann@buffalo.agency

 

 

 

 

 

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NFL ALUMNI ASSOCIATION INSURES CHARITY PRO-AM WITH VORTEX WEATHER INSURANCE https://thegolfwire.com/nfl-alumni-vortex-weather/ https://thegolfwire.com/nfl-alumni-vortex-weather/#respond Mon, 17 Apr 2023 20:54:23 +0000 https://thegolfwire.com/?p=139470 Vortex insuring NFL Alumni Association fundraiser to help protect proceeds to support NFL Player Care Foundation OVERLAND PARK, KS –...

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Vortex insuring NFL Alumni Association fundraiser to help protect proceeds to support NFL Player Care Foundation

OVERLAND PARK, KS – Vortex Insurance, an insurtech leader in parametric weather insuranceannounced today a partnership with the NFL Alumni Association to provide weather insurance for the NFL Alumni Draft Pro-Am golf tournament to be held on April 27, 2023, at The National Golf Club of Kansas City. The annual event, which is held in tandem with the NFL Draft, is one of the NFL Alumni’s largest annual fundraisers with charitable funds going to support NFL Player Care Foundation.

“The money raised at the NFL Alumni Draft Pro-Am in Kansas City for the NFL Player Care Foundation and other NFL Alumni local charities is so important,” said Rick Summers, CEO of PGA Magazine and EPB Golf LLC. “And because we cannot change the date of the event, insuring against adverse weather at an affordable price

is a decision that was easy to make. We are excited to partner with Vortex Weather Insurance once again to have a rain insurance policy tailored to our needs. Vortex has been a great partner.”

With headquarters in Overland Park, KS, just 15 minutes south of Kansas City, Vortex Insurance is proud to partner with the NFL during a time when the eyes of the sports world will be fixated on their local community.

Held annually in conjunction with the NFL Draft, the NFL Alumni Draft Pro-Am gives golfers a chance to play golf, meet and mingle with well-known NFL Alumni, including a 2023 field that includes Bobby Bell, Jonathan Ogden, Bart Oates, Santonio Holmes, Will Shields, and Brad Edwards who are all scheduled to attend. In addition to golf, participants are treated to “chalk talk” with NFL alumni after golf as well as a NFL Draft Watch Party.

“Kansas City will be the center of the sports world during the NFL Draft, which happens to be our hometown,” said Eric Anderson. “We are delighted to welcome and partner with the NFL Alumni Association in support of their NFL Alumni Charity Pro-Am. Our insurtech is built to help ensure that their golf event raises the necessary funds for NFL Care Foundation in a simple and hassle-free manner.”

 

About Vortex Insurance

Vortex Weather Insurance (dba Vortex Insurance Agency, LLC) is a data-driven weather risk insurtech that offers businesses a variety of affordable parametric weather index insurance products. Since 2008, Vortex has provided parametric rain insurance for outdoor events ranging from motorsports, youth sports, parades, fairs

and festivals, outdoor theaters, and professional golf to haunted houses and holiday light events. Vortex is proud to now offer supplemental hurricane insurance to small businesses. Insurance is underwritten by Mitsui Sumitomo Insurance USA, Inc. (MSU), admitted in all 50 states and has an AM Best rating of A+ (Superior). Weather or not … Vortex it. Contact us at vortexinsurance.com

About the NFL Alumni Association

NFL Alumni was founded in 1967 and is the oldest and most recognizable national organization of retired professional athletes. NFL Alumni consists of former NFL players, coaches, executives, spouses, cheerleaders, and associate members. NFL Alumni’s mission “Caring for our Own” is to serve, assist and inform its members

and their families. NFL Alumni also has a traditional mission of “Caring for Kids” across the country. Player alumni give back in their local communities by raising funds for youth-related charities through their 35 regional chapters. It is a tradition that has existed for more than 50 years. Alumni support typically raises more than $1.5 million dollars for worthwhile causes. To accomplish our mission & vision, the NFL Alumni have

established the NFL Alumni Foundation which is a 501 (c)(3) non-profit organization. For more information please visit www.nflalumni.org.

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VORTEX LAUNCHES FULLY AUTOMATED ONLINE WEATHER INSURANCE PORTAL https://thegolfwire.com/vortex-online-insurance-portal/ https://thegolfwire.com/vortex-online-insurance-portal/#respond Wed, 26 Oct 2022 21:11:34 +0000 https://thegolfwire.com/?p=132835 Overland Park, KS-based Vortex Weather Insurance announces it will enhance its parametric weather index insurance offerings with an all-new, fully-automated...

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Overland Park, KS-based Vortex Weather Insurance announces it will enhance its parametric weather index insurance offerings with an all-new, fully-automated weather insurance portal.

Launching this week, Vortex’s new Weather Insurance Portal is an industry-leading digital insurance platform that will allow event organizers and insurance brokers to quote, bind, and insure outdoor events online in just a matter of minutes.

The Portal expedites the underwriting process for parametric weather insurance and offers a seamless user experience from logging in to binding the policy quickly. Event organizers simply enter their business name, event location, date and time(s), rainfall threshold, and the amount of revenue to insure and the policy is generated almost immediately.

Additionally, users will have around-the-clock access to creating quotes, tracking rates, and binding and activating policies on the spot. Claims and settlements are also viewable in the system. The claims process is automated and organizers can expect their payment will be mailed typically within two weeks after a claim is triggered.

Insurance brokers who add Vortex Weather Insurance to their portfolio will also benefit from access to the Portal. Within the system, brokers can easily clone quotes for repeat events and generate documentation instantly. There’s also back-office support, and once the sale is made, Vortex handles everything else. Claims are processed quickly, without any need for check ins, paperwork, proof of loss, or event cancellation.

“We’re excited to introduce the Portal and its technology to insurance providers. The Portal offers these providers and their clients parametric rain insurance policies from quote to binding in a matter of minutes. This is a massive leap forward for the insurtech industry!” says Andy Klaus, CPCU, Vortex Vice President of Business Development.

Vortex Weather Insurance is proud to offer insurance services to various industries, including golf events and tournaments, fairs and festivals, seasonal attractions, outdoor concerts, charity events and fundraisers, motorsport events, endurance and bike races, and many others.

 

About Vortex Weather Insurance

Vortex Weather Insurance (dba Vortex Insurance Agency, LLC) is a data-driven weather risk insurtech that offers businesses a variety of affordable parametric weather index insurance products. Since 2008, we’ve provided insurance for outdoor events ranging from motorsports, youth sports, parades, fairs and festivals, outdoor theaters, professional golf, including tournaments, charity events, and fundraisers, to haunted houses and holiday light events. Insurance is underwritten by Mitsui Sumitomo Insurance USA, Inc. (MSU), admitted in all 50 states and has an AM Best rating of A+ (Superior). Don’t worry about the weather. Let us. Contact us at vortexinsurance.com.

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VORTEX WEATHER INSURANCE ANNOUNCES FALL WEBINAR SERIES https://thegolfwire.com/vortex-insurance-fall-webinar/ https://thegolfwire.com/vortex-insurance-fall-webinar/#respond Wed, 21 Sep 2022 19:19:15 +0000 https://thegolfwire.com/?p=131558 Vortex Weather Insurance announced a series of free 30-minute webinars designed to educate private golf club owners and operators, general...

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Vortex Weather Insurance announced a series of free 30-minute webinars designed to educate private golf club owners and operators, general managers, and professionals about the benefits of rain insurance for charity golf outings, tournaments and events. 

The webinars will be led by Eric Anderson, Vortex’s Director of National Sales and a former professional golfer. The webinars will be held held on the Go-To Webinar platform and are scheduled for: 

  • September 29 at 3:00 p.m. ET
  • October 19 at 3:00 p.m. ET

Anderson is excited to educate the market about rain insurance and how simple and effective it can be. “We’re thrilled to offer this complimentary webinar series. Our rain insurance product is a natural fit for the private club space, and club leaders can rest easy knowing their revenue and fundraising initiatives are insured regardless of what Mother Nature has in store.”

For more information, or to register for one of the webinars, visit https://vortexinsurance.com/upcoming-webinars/

 

About Vortex Weather Insurance

Vortex Weather Insurance (dba Vortex Insurance Agency, LLC) is a data-driven weather risk insurtech that offers businesses a variety of affordable parametric weather index insurance products. Since 2008, we’ve provided insurance for outdoor events ranging from motorsports, youth sports, parades, fairs and festivals, outdoor theaters, and professional golf to haunted houses and holiday light events. Insurance is underwritten by Mitsui Sumitomo Insurance USA, Inc. (MSU), admitted in all 50 states and has an AM Best rating of A+ (Superior). Weather or not … Vortex it. Contact us at vortexinsurance.com.

 

CONTACT INFORMATION:

54 Brands
Patrick Moree
832-294-4041
pmoree@54brands.com

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