Vortex’s parametric rainfall cover triggered at PGA Tour Champions event

The DICK’s Sporting Goods Open, PGA TOUR Champions Event received rain from June 21–June 23, triggering their parametric rainfall insurance policy with Vortex Weather Insurance, the data driven weather risk insurtech, which resulted in the tournament operator Broome County Community Charities, Inc., (BCCC) receiving payouts that helped with lost revenue and other weather-related expenses.

The event ran from June 21–June 23 at the En-Joie Golf Course in Endicott, New York.

The DICK’S Sporting Goods Open is operated by Broome County Community Charities, Inc. (BCCC) and has donated over $20 million to charity.

For this year, the event received rain on two days across the weekend, which ultimately triggered their parametric insurance policy, marking the second year the policy has been prompted.

Even though the rainfall did not force any of the events to get cancelled, the financial implications from pausing, and then having to restart the events after the rain passed through were said to be “significant.”

If you recall, Vortex’s parametric cover was triggered at last year’s DICK’S Sporting Goods Open, PGA TOUR Champions Event, which we covered here.

John Karedes, Executive Director of DICK’S Sporting Goods Open, commented: “We were fortunate enough to work with Vortex again to help protect our 2024 Tournament week. Turns out, it rained several days, our policy was triggered, and we received a check in less than two weeks.

“Even though the tournament endured rainfall on multiple days, we were able to contribute fundraising dollars as planned. We look forward to continuing our partnership with the Vortex team for 2025 and beyond to protect our event.”

Eric Anderson, Vortex Insurance National Director of Sales, said: “I want to congratulate the organizers of The DICK’S Sporting Goods Open for not only hosting a great tournament for the golf fans of Central New York but for also making the decision to partner with Vortex again this year.

“Because of the policy, the organizers went into the weekend with peace of mind. And when the policy was triggered, their instincts were proven right.”