Become Disaster proof With Financial Resilience
Updated: Jul 21
A More Active Hurricane Season Ahead
According to the National Oceanic and Atmospheric Administration (NOAA), there is an 85% chance of an above-normal hurricane season this year.
Factors contributing to this forecast include near-record ocean temperatures in the Atlantic, reduced trade winds, and the development of La Niña in the Pacific, all of which favor the formation of tropical storms.
Understanding Parametric Insurance and Microinsurance
What is Parametric Insurance?
Parametric insurance activates when a specific event occurs, such as a hurricane with wind speeds above a certain threshold. Unlike traditional insurance, which compensates based on the actual loss and involves a complex claims process, parametric insurance offers a transparent and straightforward payout.
What is Microinsurance?
Microinsurance provides coverage with lower limits and premiums. It can cover specific damages, such as those to a mobile device, or provide a cash payout for events like earthquakes or hurricanes.
Introducing FulcroGO Recover for Financial Resilience
FulcroGO Recover, powered by Raincoat, is a parametric microinsurance solution designed to provide fast cash following a hurricane. Here’s how it works:
Automatic Payments: The policy pays out based on wind speeds—the faster the winds, the higher the payout.
Quick Response: You will receive a payment notification within 5 days of the event and the payment within 10 days of the notification.
Coverage Limits: Policies are available with a limit of up to $3,000 in cash.
Annual Policy: Coverage lasts for a full calendar year and is approved by the Office of the Insurance Commissioner of the Commonwealth of Puerto Rico.
FulcroGO Recover ensures your well-being by providing the financial means to address immediate needs after a hurricane, helping you overcome the emergency more effectively.
Contact Us
For more information about how FulcroGO Recover can protect you during this hurricane season, contact our FulcroGO Team by filling out this form or by calling 787-725-5783. Stay safe and prepared with FulcroGO Recover, and ensure your financial resilience against the uncertainties of the upcoming hurricane season.
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About Fulcro
With 45+ years of experience, Fulcro Insurance is a leading risk management and insurance brokerage firm helping businesses protect what matters most. We design customized commercial insurance, employee benefits, surety, cybersecurity, and claims management solutions tailored to each organization's unique needs. Serving clients across Puerto Rico, Florida, Georgia, and the Dominican Republic, our industry-specific insurance specialists provide strategic guidance that helps businesses manage risk with confidence.
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