Parametrix Insurance Services LLC and Utah-based Leavitt Group Enterprises Inc. said Thursday that ComTech-Leavitt Insurance Services, part of Leavitt Group, would offer Parametrix's cloud downtime coverage.
Parametrix includes a parametric insurance product which covers lost time from it services. The organization independently monitors third-party providers and states that when a “downtime event” is detected, its automated policy will pay claims within 15 days.
As along with other parametric insurance products, businesses pre-agree on the quantity of coverage needed, the statement said.
