Redicova offers small businesses an alternative to the traditional loss assessment model. Cover is triggered by a severe tropical cyclone.
We pay you a pre-agreed amount within three business days of receiving your claim, to cover your unanticipated expenses and lifestyle costs, with no delays or assessments.
By paying cash upfront Redicova strengthens your financial resilience and fast tracks your journey towards recovery.
What happens after a severe tropical cyclone?
Answer. Your local economy stops.
What will you do when your clients say “I’m sorry, we can’t afford that”? Close your doors, go into hiatus; try to sell your business or invest in Redicova?
Redicova protects your cash flow against the economic impact of severe tropical cyclone on your local community, regardless of the level of property damage your own business suffers.
Redicova is the obvious solution for savvy professionals who rely on their local economy for survival.
We insure Northern Australians between Carnarvon (WA) postcode 6701 to Bundaberg (QLD) postcode 4670 including the Northern Territory.
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Tully Banana Farmer | customer since December 2021
Redicova is a parametric insurance which means it offers pre-specified payouts when a trigger event occurs. So when a severe tropical cyclone passes over your insured address, Redicova triggers a pay-out to you for your insured amount with no waiting and no assessors.
Redicova is not insurance for specific items like tractors, homes or cars, instead it covers you if your insured address is hit by a severe tropical cyclone, category 3 or more, whether you have incurred damage or not.
Developed specifically for Northern Australia to help you bridge the financial gap between immediate needs and existing support services, so you can recover quickly and prosper after a severe tropical cyclone.
Cover is triggered when the BoM records a severe tropical cyclone at your insured location.
If a category 3 or higher cyclone is recorded by the BoM, Redicova will automatically pay you a pre-agreed sum insured within three business days of receiving your claim – no questions asked.