Parametric First Dollar Hail Insurance

Product Overview

Apartments, Condominiums, Hotels, Construction, General Real Estate & More

Parametric Hail Insurance can be used to provide coverage for ANY ECONOMIC LOSS:
  • Direct and Indirect financial loss
  • Damage to the roof including cosmetic damage
  • Damage to the siding
  • Damage to signs
  • Damage to Landscapes

COVERAGE

  • A.M. Best A Rated Paper
  • Rapid claims process; Payment available in days
  • No Adjuster required
  • No deductible (hail size is the “deductible”)
  • Covers any economic loss including previously uninsurable exposures under traditional property policies
  • Coverage is an enhancement to current property coverage, not a replacement

LIMITS

  • Up to $2,000,000 at a location
  • $100,000 is the minimum limit available

TERRITORY
All 50 States

HOW IT WORKS
Coverage is determined/measured by use of 3D radar, an onsite hail station and a series of weather algorithms which utilize multiple data sources,
including the National Weather Service. The data provider we use is CoreLogic. CoreLogic measures every hail event in every part of America every
day. Once the hail size is met or exceeded, the limit is available. Insured prepares a proof of loss statement of economic loss, and its submitted to the company. Claims processor verifies the loss payment available and payment is made.

REQUIREMENTS FOR SUBMISSION
Acords, Excel statement of values, loss info,
McGowan hail application, and insured’s budget
for this incredible coverage

Download MRS CAT PARAMETRIC FIRST DOLLAR HAIL Brochure

CAT & Specialty Property Division Applications

Download: ACORD Application (125)

Download: Parametric Hail Application

Download: Checklist

Download: MRS CAT (SOV)

Download: MRS NON-CAT (SOV)

To Obtain Quotes:
A complete submission requires the following:
  • ACORD application (Commercial Section).
  • 3 – 5 years of loss summary for all underlying policies.
  • Supplemental applications (at the underwriter’s discretion).
  • Please submit to: ajames@mcgowanrisk.com
To Bind Coverage:
  1. A written request to bind.
  2. A signed ACORD submission.
  3. 3 years of loss runs for all underlying policies.
  4. Supplemental applications (at the underwriter’s discretion).

CONTACT

Austin James    |    Will Jayne    |    Brian Hogge    |    Frank Menucci    |    Darin McClure    |    Todd Tomlin