Environmental Finance reports that Nikon cameras in Switzerland are utilising the services of weather risk management firm CelsiusPro AG to offer camera buyers in Switzerland a refund should the weather turn bad over a defined period over the Easter holidays.
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It’s two years since the Chicago Mercantile Exchange (CME) launched its snowfall derivative contracts giving market participants a way to hedge the risks of there being too much snowfall and that impacting their business and profits. The snowfall contracts have been gaining traction and increasing interest especially since the recent snow storms have struck the […]
Japanese newspaper the Yomiuri Shimbun report that Japan Insurance Co. has started to see weather insurance products which refund the full value of travel costs should it rain or snow more than a certain amount at a customers destination within Japan.
At this time of year retailers all over the world are hoping it doesn’t snow. If you’re a UK retailer you may be a little disappointed and be glancing up at the sky nervously. Why? Well there’s a chance you’re running a weather refund promotion which means you could be literally giving your products away […]
Finding ways to smooth your revenue stream whatever the weather is becoming easier with more types of weather risk transfer and weather insurance products available than ever before. Finding ways to refund your customers if the weather’s bad and not lose out yourself is increasing in popularity too it seems.
Lufthansa, the German airline, is the latest travel company to offer a refund for inclement weather while travellers are abroad. They’re the first airline to offer this, previously this type of weather risk deal has only been offered by tour operators and companies offering accommodation. So, essentially weather refund deals like this are designed to […]
Aon France has brokered a weather refund protection insurance scheme for two French travel agencies. The scheme provides customers of holiday groups Pierre et Vacances and FranceLoc with the ability to claim back the cost of part of their trip should it rain at least four days out of a week while they are away. […]
…Although it helps when you’re only 165 square miles in area. The Barbados Tourism Authority has become the latest travel related organisation to utilise Weatherbill’s coverage to offer a weather guarantee to holiday makers and visitors to their island. As with all of these deals the idea is to stimulate bookings by attracting people to […]
Weather refund promotions and weather insurance are common these days, holidays, festivals and retail outlets are all offering money back or discounts if the weather is inclement. Sporting events seem like a natural avenue for the weather risk management companies to venture down. However, consider football (soccer for anyone in the U.S.). In the UK […]
2008 was a year of ups and downs for the insurance linked security and catastrophe bond markets, while the weather risk management market did not fare so badly (although it has been quiet on the news front). At the start of 2009, we thought we’d ask some of our friends within these markets to contribute […]