Investing.com -- Airbnb has launched an earnings protection insurance plan for hosts in the United States through a partnership with MIC Global. The optional policy includes parametric payouts for certain natural catastrophe events.

The rental marketplace announced on Wednesday that the policy aims to help hosts manage financial losses from unexpected interruptions that prevent them from welcoming guests.

Payouts are calculated based on a listing's historical average earnings, according to Airbnb. Hosts must meet specific criteria to qualify: they can have no more than five listings, must have had over 50 nights reserved in the past year, and must have hosted their first reservation at least one year ago.

The policy is available in 45 U.S. states. Indiana, Maine, Missouri, New Jersey and New York are not currently included in the program.

"Some of our very best hosts have shared how stressful it can be when something completely out of their control – such as extreme weather conditions – makes it impossible for them to host, and their income is immediately impacted," said Sui Lin Cheong, vice president of AirCover and Insurance Operations. "We partnered with MIC to design this first-of-its-kind product to give our hosts extra peace of mind so they can focus on rebuilding their business and doing what they love: hosting again."

Jamie Crystal, CEO of MIC Global, said the partnership "represents the convergence of our embedded distribution model, global reinsurance capacity, and the kind of parametric innovation that turns insurance from a promise into a real-time financial safety net for the people who depend on it most."

The policy complements AirCover for Hosts, a free protection program that covers property damage and liability risks and is automatically included with every listing.