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Climate catastrophe risk models launched by AbsoluteClimo

AbsoluteClimo, a climate and weather modeling, forecasting and risk management firm based in Hawaii, has launched what it calls the "World's First Catastrophic Risk Models Linked To Skillful Climate Physics Prediction."Climo๏Cats (ClimoCats), as its climate catastrophe risk models are called, will enable insurance, reinsurance and insurance-linked securities (ILS) market participants read the full article →

Winter storms, extreme cold drive billion-dollar costs in January 2019: Aon

The onset of winter was finally felt across the United States in January, as repeated winter storm outbreaks and a cold spell driven by the polar vortex phenomena drove billion-dollar economic costs, according to Aon.The insurance and reinsurance broker would not be drawn on the eventual cost to the industry read the full article →

Weather risk market healthy & expanding: Malinow, Sompo Global Weather

Opportunities remain in the healthy and expanding weather risk market with both capacity supply and demand supporting short-term growth. And, at the same time, there’s likely to be a shift in weather market leadership away from “reinsurers with a front end”, according to Martin Malinow, President, Sompo Global Weather.Sompo Global read the full article →

Nephila Climate hires Ariane West as Director, Structured Finance

Nephila Climate, the weather, climate, environmental, social & governance risks focused unit of Nephila Capital, the largest insurance and reinsurance-linked fund manager, has hired Ariane West as a Director of Structured Finance.Nephila Climate (NCx) is dedicated to originating and structuring transactions, as well as securing investments for the Nephila funds read the full article →

Nephila signs up to offer pricing & capacity on weatherXchange

Nephila Climate, the weather and climate risk transfer focused unit of the largest asset manager in insurance and reinsurance linked investments, Nephila Capital, has signed up to provide indicative pricing through the Speedwell Weather run parametric weather risk transfer platform weatherXchange.In providing the indicative pricing for parametric and index-based weather read the full article →

MiCRO starts parametric business interruption insurance in El Salvador

The Microinsurance Catastrophe Risk Organisation (MiCRO), a reinsurance company established in Barbados and founded by Fonkoze and Mercy Corps with the support of Swiss Re, has launched a new parametric insurance product in El Salvador that is designed to provide business interruption coverage.The new product, named Produce Seguro in El read the full article →

Parametrics a work in progress, but can become mainstream: Airmic Chair

According to Paul Goulding, Chair of Airmic, parametric insurance and reinsurance solutions remain a work in progress but could become more mainstream in the future as more and more companies understand the coverage they can offer and the benefits of timely, hassle-free payment.In a new report from Airmic in collaboration read the full article →

Meteo Protect signs up more French wine makers to parametric insurance

Lloyd's of London coverholder and parametric and weather index insurance specialist Meteo Protect has signed up more French wine makers to its product this year, after farmers had been hit with freezing cold temperatures and frost during 2017’s critical spring growing period.The impact of 2017's cold weather has created more read the full article →

Wind hedging weather risk market momentum expected: Speedwell Weather

Stephen Doherty, the Chairman of Speedwell Weather, a service provider to the weather risk management market, expects the wind hedging market to gain further momentum after steady growth in recent years, and, in a recent interview, told Artemis about the benefits of its sophisticated Windfarm Benchmarks.Founded in 1999, Speedwell Weather read the full article →

Speedwell’s weatherXchange adds support for pricing of zero premium swaps

Speedwell Weather, a leading service provider to the weather risk management market, has added support for zero premium swaps within its parametric and index-based weather risk transfer platform weatherXchange, with pricing now available for these instruments.Speedwell launched its online technology based weather trading platform weatherXchange just over a year ago, enabling read the full article →