Redicova offers small business a parametric 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.
How Redicova can help small business.
Have you thought about your loss of trade post a severe tropical cyclone? Your property may not be damage, but your customers are gone. What happens to your income?
Traditional insurance pay business interruption if you have it or if you sustain property damage at your insured premises, what if you have neither?
Protect your income with Redicova. Redicova is the obvious solution for savvy business owners.
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.