india

The Indian financial markets have been pushing for regulation to be introduced that would allow for the use of commodity options and derivatives, including weather derivatives, has been under way for nearly two years now. We’ve written about this previously, here and here, with the latter article discussing moves by the Associated Chambers of Commerce […]

HDFC Ergo General Insurance in India have announced that they have made their first payments under their weather-index insurance programme due to heavy rainfall in the Dewas district of India. The index based weather microinsurance coverage was offered for this first time in 2011 to protect soybean farmers from heavy rainfall.

The burden placed on the governments of developing nations after natural disasters and other catastrophe events can be huge. Much of the developing world is particularly exposed to a wide range of natural catastrophes but insurance and reinsurance penetration is low meaning that the government can end up picking up the pieces.

We last wrote about the push to get weather derivatives listed as a tradable instrument on the commodity exchanges of India back in September last year when the Indian government approved laws to allow commodity options and futures to be traded in the country. It was hoped that the new law would lead to other […]

India’s Prime Minister, government officials and the National Disaster Management Authority (NDMA) are meeting today to discuss current issues regarding disaster preparedness and risk transfer which could affect India’s population and economy.

Indian broadcaster Multi Screen Media who are responsible for televising the Indian Premier League cricket competition has taken out a weather insurance policy to cover against the chance of bad weather disrupting or cancelling league matches.

ICICI Lombard has got the go ahead to expand the reach of its index-based crop weather insurance program for farmers in India. The insurer has been given the mandate to provide weather based crop insurance for the 2010-2011 Rabi season (one of the two crop cultivation seasons in India) to eight new states; Madhya Pradesh, […]

Livemint.com, an Indian based financial and business news website, is reporting that Swiss Re has been in talks with the Indian Central and state governments to propose methods to minimise risks to the countries finances and population from natural catastrophes.

India’s government cabinet have today approved changes to the laws which allow commodity trading in the country. The laws have been in place and allowed trading of commodity futures since 2003. The new change to the law will allow commodity options to be traded on exchanges within the country.

Below please find a press release from the Weather Risk Management Association discussing their recent survey of the Indian Weather Risk Management Market. MIAMI, FLORIDA (May 12, 2010) – The Weather Risk Management Association (WRMA) released an industry survey of the Indian Weather Market today at its 12th Annual Meeting in Miami, Florida. The survey […]