Highlights
- Avoid loss of revenue due to weather
Best For
- Boat rental companies
- Car washes
- Pay-for-play golf courses
- Restaurants
- Water parks
- Category: Events
- Group: Specialty Group
Income stabilization is a simplified business interruption tool that protects against the risk of a reduction in sales or revenue tied solely to weather. This coverage can be used to stabilize income for businesses, such as restaurants or pay-for-play golf courses, that rely on good weather on weekends and holidays.
Summary of Coverage
Tokio Marine HCC's income stabilization coverage can be used to protect against the risk of lost sales or revenues due to weather. This seasonal or annual coverage responds to the loss of revenue caused by adverse weather conditions that affect the business. The insured receives an agreed upon payout per day or per season to offset the shortfall.
For example, a pay-for-play golf course experiences a summer of weekend washouts, dramatically impacting its bottom line. Or, a restaurant that relies on extra revenue from outdoor dining in the spring and summer, experiences plummeting revenues during an unusually rainy season. Income stabilization insurance could help both establishments make up for the lack of customers during a period of time that is typically busy and profitable.
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