Understory provides insurance policies that specifically cover property damage, liability, and business interruption caused by climate‑driven extreme weather events. Using regional climate data and risk modeling, it tailors premiums and limits to the evolving hazard landscape, helping commercial property owners and mid‑size businesses manage financial exposure to storms, floods, wildfires, and similar risks.
Funding
$15M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Climate change is increasing the frequency and severity of extreme weather events, exposing property owners and businesses to heightened risks of damage, liability claims, and operational disruptions. Traditional insurance products often lack specific coverage for these climate-driven hazards, leaving many entities financially vulnerable.
Solution
Understory offers insurance policies tailored to the risks posed by climate change, providing coverage for property damage, liability, and business interruption caused by extreme weather events. The policies are structured to reflect the evolving risk landscape, using climate data and risk modeling to set appropriate limits and premiums. By focusing on climate-specific exposures, Understory helps clients quantify and transfer financial risk associated with storms, floods, wildfires, and other severe conditions. The company’s approach enables businesses and property owners to maintain continuity and protect assets despite increasing environmental volatility.
Target Audience
Primary customers are commercial property owners, small‑to‑mid‑size businesses, and organizations operating in regions with elevated exposure to climate‑related weather hazards.
Features
- Dedicated coverage for property loss, liability, and business interruption linked to climate-driven extreme weather events
- Risk assessment models that incorporate regional climate data and projected hazard frequencies
- Flexible policy terms that can be customized to the specific exposure profile of each client
- Claims handling processes designed for rapid response after weather-related incidents
- Premium pricing that reflects real-time climate risk analytics rather than generic historical loss tables