New Delhi, May 7 -- With extreme weather events that include severe cyclonic storms and heatwaves becoming normal now, climate change is real. Climate change can hit people in multiple ways including loss of livelihood and income loss that may last for a few days, weeks or even months. To mitigate the losses arising from climate change, Bajaj Allianz General Insurance has come up with a 'ClimateSafe' insurance policy.

Here is a quick guide on its features and benefits:

ClimateSafe, which is a parametric insurance policy wherein payouts are triggered when certain specified parameters are met, covers increased living costs due to higher electricity use, unexpected commuting expenses, reduced sales during extreme weather, supply chain dela...