This specialized insurance might be coming for your next concert

Bad Bunny’s three nights of sold-out shows in Medellín, Colombia, were expected to bring in around $24 million. So when rain entered the weather forecast, the organizers came up with an insurance backup plan that included installing a temporary weather station inside the stadium.

“Marketplace” host Kai Ryssdal spoke with Joe Wertz, a climate and weather reporter for Bloomberg based in London, about the niche type of insurance used for the shows, and why it might become more common in the future.

“This is a policy that will pay out a set amount and that needs a specific pre-agreed trigger,” Wertz said. “The weather stations they set up were to measure if that trigger happened, in this case a pre-agreed amount of rainfall that the organizers thought would lead to losses for the concert.”

Use the audio player above to hear their conversation.