In Badlapur, a town in Maharashtra’s Thane district, violent protests erupted over the alleged sexual abuse of two kindergarten girls. The situation quickly escalated, with demonstrators blocking railway tracks and vandalizing a local school building. During the clash, at least 17 city police personnel and eight railway police officers sustained injuries from stone-pelting. The incident led to an internet outage and many schools staying closed as a precautionary measure.

The situation in Badlapur is a stark reminder of the importance of having the right insurance coverage in place. While traditional insurance policies may cover some of the damages caused by violent protests, they often fall short in providing adequate protection. This is where parametric insurance comes in.

Parametric insurance is a type of insurance that pays out when a specific event occurs, such as a natural disaster or a riot. Unlike traditional insurance policies, which require extensive claims processing and investigation, parametric insurance uses real-time data to trigger payouts automatically. This means that businesses and individuals can receive compensation quickly and efficiently, without having to wait for lengthy claims processes.

In the case of the violent protests in Badlapur, parametric insurance could have helped businesses and schools affected by the internet outage and closures. By using real-time data to trigger payouts, parametric insurance could have provided immediate financial support to those impacted by the protests.

At Riskwolf, we specialize in helping insurance companies develop and operate parametric insurance at scale. Our unique real-time data and dynamic risk modeling enable insurers to build and operate parametric insurance quickly, reliably, and efficiently. With Riskwolf, insurance companies can provide their clients with the protection they need, when they need it most.

The situation in Badlapur is a sobering reminder of the importance of having the right insurance coverage in place. As insurance executives, it is our responsibility to ensure that our clients are adequately protected against all types of risks, including those posed by violent protests and civil unrest. By working with Riskwolf to develop and operate parametric insurance, we can provide our clients with the peace of mind they need to navigate even the most challenging situations.

Original article: Violent Protests Lead to Internet Outage and School Closures in Badlapur