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CatVest launches EnergyRisk Model and industry-loss indices

CatVest Petroleum Services LLC, who launched last year offering oil spill risk modelling  and transfer services (specifically the creation of parametric triggers to allow for oil spill ILS issuance), have today announced the launch of a new model which targets more comprehensive energy industry losses. The CatVest EnergyRisk model is read the full article →

Growth and diversity of weather trading market highlighted at WRMA conference

The weather risk market demonstrated its diversity and growth at the recent Weather Risk Management Association (WRMA) 12th Annual European Meeting in Dusseldorf, Germany. Over ninety weather risk professionals from six continents and seventeen countries attended, demonstrating continuing global interest in weather risk hedging and making it the most diverse read the full article →

Energy markets still the primary users of weather risk management tools

At the recent Weather Risk Management Association's (WRMA) 13th annual meeting held in Houston, Texas earlier this month participants on a panel about power and natural gas agreed that the energy markets continue to be the primary users of weather hedging and weather risk management tools.The energy markets including power read the full article →

Wind power industry can now hedge the financial risk of wind variability

A really interesting new weather risk hedging product designed to help the wind power industry hedge the financial risk of wind variability has just been announced in a joint statement by renewable energy risk analysis firm 3TIER® and Galileo Weather Risk Management. They've collaborated to create a financial instrument that read the full article →

New renewable energy insurance facility to offer weather cover

A new insurance facility has been launched today which will offer insurance products to renewable energy projects in developing countries. The facility has been launched by this coalition of re/insurers and environmental organisations; Munich Re, RSA Insurance Group, CarbonRe, the Global Environment Facility and the United Nations Environment Programme. The read the full article →

Clever weather risk management enables Cumulus Energy Fund to grow 46%

Here's a valuable lesson for all those involved in the investment aspect of the energy sectors.Cumulus Energy Fund, managed by PCE Investors Ltd, has gained 46% this year to the end of July, beating some of its competitors by a pretty significant margin to top a report looking at returns read the full article →

Willis hedges hurricane risks for NRG Energy

Willis, the global insurance broker, has closed what is being called a ground-breaking index-based hedge for U.S. electric generation and retail company NRG Energy Inc.The transaction offsets the potential financial impact to NRG if a hurricane were to affect its business in the Houston, Texas area. The risk management vehicle read the full article →

Marsh, Berkshire set up new Gulf energy windstorm insurance program

Marsh has teamed up with Berkshire Hathaway to create a windstorm insurance program aiming to bring capacity back to the hard-hit energy companies who operate in the Gulf of Mexico. The program has been called the Cost and Certainty Coverage Program (or Triple C for short) and carries $500m of read the full article →

Weather risk management not working for Washington Gas?

Earlier this month I wrote about Star Gas Partners and their 10Q report which left you with the impression that they had failed to protect themselves against the vagaries of the weather even though they run what seems a decent weather risk management program. The 10Q perhaps highlighted that just read the full article →

Advent ceases to write Gulf of Mexico offshore energy business after Ike

Advent, the Lloyd's insurer, has updated it's loss estimate for Hurricane Ike today. It's original estimate of $15m has been upped to $42m due to the extent of losses being reported by loss adjusters.The increase is primarily from Advents Lloyd's Syndicate 780 which manages the offshore energy account, it has read the full article →