Industry-First Climate Risk Cover From Bajaj Allianz

Pune: Bajaj Allianz General Insurance Company’s new initiative – ‘ClimateSafe’ – is designed to provide financial protection to those who are significantly vulnerable to the impact of climate change. This industry-first climate risk insurance is specifically tailored to meet the needs of retail customers, office goers, auto/taxi drivers, retail shop owners, delivery agents, home service professionals, gig workers, home residents, and event attendees facing climate-related income loss or increased expenses due to climate-related risks, including extreme heat, cold waves, and excessive rainfall.

ClimateSafe Insurance covers increased living costs due to higher electricity use, unexpected commute expenses, reduced sales from fewer customers during extreme weather, supply chain delays from flooding, leaks from prolonged rainfall, accidents caused by excessive rain, loss of income for daily wage workers due to severe weather, damage to household items from floods and heat waves, and event cancellations due to adverse weather. It features dynamic pricing with predefined triggers and tailored premiums based on real-time climate data.