WeatherBacker Products: Rain Day Delay

The Challenge
A contractor bidding on a calendar date project to repair a stretch of highway worries that the expected profit from this job may be whisked away if rainfall causes delays and even a temporary shutdown of the project. When faced with a delay, a contractor must incur overtime costs or risk missing performance deadlines and the opportunity to earn an incentive bonus. This could seriously damage the company’s bottom line for the project.

The Solution
The historical data demonstrates that the contractor has good reason to be concerned. ACE WeatherBacker can help prevent loss of profits when the weather temporarily derails construction projects.

Features*

• Policy Limit – Up to $1,000,000 in coverage.
• Minimum premium is $25,000.
• Policy Terms – One day to one year.
• Rate on Line – Typically 1% to 10% of the policy limit depending on the requested deductible.
• Quote Lead Time – One to five days depending on the complexity of the quote.

*subject to policy terms and conditions.