Golf Tees-to-Green Flood Insurance Program
Golf Tees-to-Green Flood Insurance Program
Golf courses are often built on land prone to flooding. Yet, resorts and courses generally only carry flood insurance for physical assets like golf carts, club houses, maintenance sheds, and equipment. Damage to the course itself and business interruption due to downtime are almost always excluded from current options on the market, which dramatically increases the cost of flood-related closures. If the course is unplayable for days, weeks, or even longer, lost revenue can include green fees and concessions, hotel reservations, restaurant patrons, and other forms of significant income.
Amwins has partnered with Floodbase, a leading AI flood company founded in collaboration with Google, and "A" rated carriers to develop a flood program designed to reimburse U.S. golf courses for lost revenue and repair costs incurred when courses are flooded.
The revolutionary program fills a significant gap in flood coverage available to courses or golfing events.
How it Works: The Design of the Tees-to-Green Parametric Product
Step 1:The insured area is defined by a boundary drawn around the outer border of the golf club. | Step 2:The presence of water is measured hourly within this boundary (no equipment installation necessary. | Step 3:Payout triggered when a pre-determined percentage of the course is underwater. |
REQUEST A CUSTOM FLOOD IMPACT SCORE FOR YOUR CLIENTS' COURSES
Highlights
- Expanded protection for tees-to-green: flood insurance for previously uncovered lost revenue when the course is unplayable or needs repairs.
- Payout speed and flexibility: rapid payouts within days of a flood which can be used at the insured's discretion, including for course repairs, business interruption, etc.
- Increased limits: dedicated flood insurance limits that can extend existing coverage or provide coverage at a previously uninsurable location.
- Personalized pricing options: pricing and coverage options are tailored to the insured's risk tolerance and budget.
Target Risks:
- Golf courses, full-service clubs or stand-alone courses nationwide
- Minimum premium: $65K
- Average limits: $1M - $7M
