Why StormPeace?

When looking for insurance for your house and other properties, you want to be assured that the insurance company pays you as soon as possible. You don't want to spend weeks waiting in the ruins of a hurricane, hoping that a claims payment comes soon.

StormPeace is a new type of insurance coverage that offers you Peace during even the worst of Storms. By choosing StormPeace, you are assured that if the triggers for strength of hurricane and distance from the storm are met, a payout will arrive promptly.

Here are just some of the things that StormPeace insurance offers its consumers

  • Definitively defined payment
  • No claims adjustor necessary
  • Payment arrives quickly when insured needs it the most
  • Evacuation expenses
  • Pay unanticipated expenses
  • Hire immediate services
  • Pay expenses under the hurricane deductible
  • So long as triggers are met, it doesn't matter whether loss occurred from wind, rainfall, storm surge, flood, or mold
  • StormPeace is a parametric insurance, which provides a means for transparent and rapid claims payment, which leads to a better claims experience. To learn more about parametric insurance in general, and what StormPeace offers, click on the link below.

    Click here to download the StormPeace PDF

    Parametric Insurance for Catastrophes

    Traditional indemnity insurance like homeowner's insurance does not work well for large scale catastrophes like hurricanes. The business model for the indemnity insurance requires verification of damages before the policyholder is indemnified. This, per necessity, requires a visit by the insurance company adjusters to inspect the property. In the case of a large scale catastrophe, where hundreds of thousands of policyholders are affected, the system breaks down because of sheer amount of work required to assess the damage to each and every property.

    Most such policies also have deductibles that have to be met before insurance payments kick-in; and additionally, there are exclusions like water damage caused by storm surges that are not covered unless there is an explicit flood coverage. All this takes months, if not years to sort out. Insured customers have to wait and suffer a lengthy period before they are indemnified.

    Parametric insurance is a very attractive alternate approach to handling such catastrophes. It covers estimated, as against actual damages that might occur because of a hurricane, based on its parameters like the category of the hurricane and its distance from the insured property. A category 5 hurricane can do an extensive damage, even at the distance of 50 miles; whereas a category one hurricane at the same distance is likely to do much less damage. A coastal property is more likely to have flood damage than an inland one. All these factors are taken into account in estimating potential damage.


    is such a parametric insurance currently being offered in Florida as a supplemental insurance. StormPeace policy provides coverage for "Named Hurricanes" being tracked by National Hurricane Center. It provides coverage of up to $60,000, but less than the existing homeowners policy deductible, for hurricanes related damages; and is available to all homeowners and renters. It provides coverage to mobile homes too. It covers any loss to the property. It includes pool, pool cages, boating dock, trees, food spoilage, evacuation expenses etc. as covered expenses. It even covers water damage of all types caused by hurricane! All payments are made without any deductible or any adjustment process.

    Florida law requires that the insured must have an insurable interest in the property being insured and have an actual loss caused by the hurricane and actually file a claim before he can be reimbursed. StormPeace agrees to pay the pre-agreed amounts for pre-agreed objective parameters. Since hurricanes are tracked by National Hurricane Center in real time, and insured property GPS location is known; StormPeace immediately notifies the customer once triggers for his property are met and he is eligible to file a claim. Payments are initiated on a simple claim and attestation (and simple proof like photos) of damages by the insured. Actual substantiation of the loss, if necessary, can happen later. In most cases, payments are made within 72 hours. This makes for quick relief at the time of greatest need.

    Stormpeace is backed by a top tier re-insurer. It has been licensed to be offered as a surplus line coverage in the state of Florida. It is ideally suited to plug holes in the traditional homeowner's coverage. Policy is simple enough and can be bought online in a few clicks. It does have a twelve day wait period required by the underwriters.

    StormPeace is an offering of Assured Risk Cover, Inc (ARC) of California, and is based on deep machine learning algorithms that are able to precisely compute and price the hurricane related risk for a given address (GPS location). It takes into account the past history of all the known storms and current climatic conditions. Its backend is fully automated and tracks the hurricanes in realtime in relation to insured properties. Insured customers can use StormPeace App to keep track of hurricane with respect to their properties.

    During the 2017 hurricane season 100% of claims customers attested to were paid; 98% of them were paid in 72 hours.