Archive for August, 2010


CelsiusPro helps businesses become winners despite bad summer weather

Locarno International Film Festival, Bielersee-Navigation-Company and Ski Lifts Schwyz-Stoos Fronalpstock are among the winners this summer as they have successfully hedged against bad summer weather conditions in Europe. They hedged their financial risks with customized weather derivatives and received an automatic payout following a rainy summer according to CelsiusPro.Winners despite read the full article →

Multi-stakeholder approach required to address longevity risk

Concerted action in the form of public-private partnerships is required from governments, insurers and pension providers if they are to tackle the risk of increased life expectancy. In its new report 'A short guide to longer lives: Longevity funding issues and potential solutions' published today, Swiss Re warns that time read the full article →

Guyana pushing for Caribbean rainfall cover by year end

The Guyanese government have issued a press release calling on the Caribbean Catastrophe Risk Insurance Facility (CCRIF) to get its much discussed rainfall insurance product ready by year end. The CCRIF teamed up with the Caribbean Institute of Meteorology and Hydrology (CIMH) to create and launch a rainfall model for read the full article →

Earl now a Category 4 hurricane, threatens the U.S. East Coast

The Atlantic tropical storm season has kicked off with a vengeance. There are three named storms in the Atlantic right now; Danielle which reached Category 3 but never threatened land, Earl (more about him later) and Fiona who is a few days off becoming a hurricane. Both Danielle and Earl read the full article →

Hail causes huge losses in Perth, Australia. Could cat bonds help?

A major hailstorm which struck the Perth area of Australia on the 22nd March this year has become one of the costliest disasters ever experienced in that country. The Insurance Council of Australia has released figures which show the storm was the third most costly event on record.Losses from the read the full article →

New boutique investment and insurance-linked securities specialist Twelve Capital launches

A new investment firm who will be specialising in insurance-linked securities has launched in Switzerland (according to Investment & Pensions Europe). Twelve Capital are a boutique investment and asset management firm who will be offering insurance-linked security and insurance related debt investment opportunities.The firm has emerged from the ILS team read the full article →

Brazil president approves rural catastrophe insurance fund

The Brazilian president Luiz Inacio Lula da Silva has signed into law a bill which will allow the creation of a catastrophe fund designed to protect the rural sector.The federal government will invest up to 4b reais ($2.27b) into the catastrophe fund through bonds, half during the first year of read the full article →

HURLOs want to bring hurricane hedging to everyone

Remember HURLOs? Hurricane Risk Landfall Options? They were launched in October 2008 by Weather Risk Solutions, LLC (WRS) and promised a mutualized marketplace for hurricane options (our previous coverage here and here). To date they've been dabbled with by investment professionals but we haven't heard a great deal more until read the full article →

Increased exposures responsible for increased disaster losses, not climate change

There has been much discussion in recent years regarding climate change, man made global warming and their possible link to increasing disaster insurance losses. Studies have suggested in recent years that disaster losses have been increasing more rapidly and so people look for a reason for this increase and one read the full article →

Increased northeast U.S. coast hurricane threat says WSI

Weather Services International (WSI) foresee a very active remainder of the 2010 Atlantic tropical storm and hurricane season. Their latest tropical weather update calls for 18 named storms, 10 hurricanes and 5 intense hurricanes of category 3 or higher. This after a benign start to the season demonstrates the need read the full article →