# Fire in a Parcel

## INTRODUCTION & EXAMPLE USE CASES

### PARAMETRIC SOLUTION FOR WILDFIRE INSURANCE

Fire in a Parcel (“FIP”) is a parametric insurance solution that introduces an affordable, quick-to-pay risk transfer option for businesses and high net worth property owners in the Continental US. Payout is triggered once a wildfire enters a defined parcel boundary. FIP has zero deductible and coverage extends to both physical damage and business interruption.

## PERIL

- Wildfire only

## AVAILABILITY

- Continental US

## LIMIT

- $1 to $10 million

## COINSURANCE

### POLICY TERM

- Standalone or supplemental

### SELECT CUSTOMERS

- 1 Year
- Building Complexes
- Education
- Complex Risks

## ILLUSTRATIVE USE CASES

FIP’s broad policy form can be used to wrap existing policies to cover emergency and uninsured expenses like secondary structures, equipment, business interruption, and relocation costs. When combined with the product’s parametric design, insureds benefit from a simple structure that is quick-to-pay upon a triggering event.

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## FIRE IN A PARCEL FREQUENTLY ASKED QUESTIONS

### HOW ARE RATE AND ELIGIBILITY DETERMINED?

1. The location address is provided to Kettle.
2. Kettle determines at that time whether aggregate is available in that geography.
3. Wildfire scoring is applied, and eligibility is assessed.
4. If the property qualifies, pricing is provided subject to a minimum 0.90% (gross) rate-online (ROL).

### HOW DOES THE CLAIMS PROCESS WORK?

1. Insured submits notice and proof of loss to Kettle within 60 days of a triggering event.
2. Kettle confirms a Wildfire has intersected the property boundary using fire perimeters from the National Interagency Fire Center.
3. Kettle prepares and delivers an event report to the insured confirming a triggering event.
4. Payment is issued within 5 business days following delivery of the report.

### WHAT CONSTITUTES A WILDFIRE?

“Wildfire” is defined as an uncontrollable wildland fire, forest fire, brush fire, desert fire, firestorm or any other series of fires, regardless of origin, which is predominantly fueled by indigenous vegetation. The parcel geometry is the polygon that delineates a property’s boundary, identified by a unique Assessor Parcel Number assigned by the county.

### HOW IS A “PARCEL” DEFINED?

The parcel geometry is the polygon that delineates a property’s boundary.

### WHAT TYPES OF DAMAGE ARE COVERED UNDER FIP?

The policyholder must submit proof of loss ≥ $10,000 resulting from a Wildfire Event. Loss can be on account of any direct or indirect physical loss or damage to property, business interruption, extra expense, and any other expenses associated in connection with the insured location.

### DOES FIP COVER SMOKE DAMAGE?

FIP covers smoke damage in the event a triggering event has occurred. However, to the extent a Wildfire has not intersected with the defined parcel or triggering conditions have not otherwise been met, smoke damage is not covered.

### HOW DOES FIP INTERACT WITH OTHER COVERAGE?

FIP can be purchased as standalone or supplemental coverage. FIP has zero deductible and extends to both physical damage and business interruption. Policyholders can use FIP to “buy down” high wildfire deductibles on in-place coverage.

## OTHER INFORMATION

Kettle is currently limited to working with entities that have a wholesale or surplus lines license. For any other questions related to Kettle or the Fire in a Parcel product, please reach out to [contact@ourkettle.com](mailto:contact@ourkettle.com).