Observed Weather Index means the observed value of the Weather Index against the weather parameters covered in the Policy, which observed value will be used for determining the Strike Index or the Exit Index, during the Period of Insurance.
Observed Weather Index means the observed value of the Weather Index against the weather parameters covered in the Policy, which observed value will be used for determining the Strike or the Exit , during the Period of Insurance. The data can be taken from a physical weather station situated on ground or modelled index data based on satellite/atmospheric observations or a combination of all.
Observed Weather Index means the observed value of the Weather Index based on Actual Weather Data of the cover period, which observed value will be used as additional information for claims evaluation for specific events such as prevented sowing & localised calamities etc.
Examples of Observed Weather Index in a sentence
It means the primary weather station as specified in the Schedule, the weather data of which would be utilised to compute the Observed Weather Index during the Policy Period for the purpose of claims calculation and settlement under the policy.
More Definitions of Observed Weather Index
Observed Weather Index means the observed value of the Weather Index based on Actual Weather Data of the cover period, which observed value will be used for determining the claims amount, during the Period of Insurance.