Today, Agro National Inc. (Agro) announced a strategic relationship with eWeatherRisk.com to offer weather risk transfer solutions to Agro’s agricultural clients through Agro’s agent network. The relationship allows qualified producers to enter into weather contracts via eWeatherRisk.com and supplement their crop insurance coverage with weather risk derivative products.
Kim Gibson, Agro President said: “Agro has pioneered novel approaches for crop insurance and for our clientele’s crop risk requirements. Through this strategic relationship with eWeatherRisk, Agro fosters market growth and access to weather risk management for our client segment not available until now. The depth of the historical weather data is immense and with the speed of real time pricing and contract purchase, clients that qualify have a new tool to offset production agriculture’s weather-related risk.” Clients are referred through Agro’s large agent network to eWeatherRisk’s platform where qualified producers can price, purchase and manage their weather contracts, Mr. Gibson went on to say.
Brian O’Hearne, President of eWeatherRisk, added: “eWeatherRisk provides a next generation platform for the creation of weather risk management products. Existing weather products do not offer the peril customization, geographic flexibility, limited basis risk, ease of use, intuitiveness and automation available through eWeatherRisk. These features allow qualified customers to explore the historical performance of a variety of potential risk management approaches, increasing the possibility that one or more approaches will be appropriate.
More than one third of the United States economy is directly or indirectly dependent on adverse weather events. Qualified agricultural producers can now protect themselves against unfavorable weather conditions by purchasing weather risk transfer derivative products through eWeatherRisk.com.
eWeatherRisk.com’s online pricing platform provides qualified United States agricultural producers as well as Agribusinesses, easy access to weather risk management derivative products; an option that to date has primarily been reserved for large companies. The eWeatherRisk platform allows qualified producers throughout the U.S. and Canada to easily manage their weather risk through customizable weather risk derivative instruments and protect themselves against financial losses of adverse weather.
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