weather derivatives

Insurers have paid out over £650m in claims for damage related to the colder than average weather the UK has experienced this winter. The UK has experienced more snowfall than usual and much lower temperatures which have made this one of the coldest winters on record. Insurance claims have risen in line with the weather […]

Snowfall has certainly been a feature of the northern hemispheres winter months this year. The UK suffered much colder temperatures than normal and snowfall which remained on the ground for many days causing much disruption to transport, travel and businesses. The U.S. has suffered huge snowfalls in the northeast which again caused major disruption and […]

Here’s the latest press release from the Weather Risk Management Association for your information. WASHINGTON, DC – (Marketwire, Feb. 11, 2010) – The Weather Risk Management Association (WRMA) is advocating that companies pay equal attention to weather risks that can cause immediate variability in earnings as well as those risks due to climate change which […]

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.

Good news from the Weather Risk Management Association (WRMA), the 12 year old trade association for the weather risk management industry, this week as they announced that they are to broaden the scope of its focus to include areas of weather risk management such as catastrophe bonds, insurance-linked securities and industry loss warranties.

Regular readers of Artemis might remember our article from a year ago which asked some of our industry friends for their opinions on the prospects for insurance-linked securities and weather risk management for 2009. Looking back at that article, a lot of the predictions were accurate and it ended up being the most viewed article […]

The weather derivatives market is particularly quiet these days, not just because everyone is in Paris at the WRMA European event, but rather because the bulk of the market seems to be quietly transacted without any need for fanfare or announcement. The market is doing quite nicely on exchanges like the Chicago Mercantile Exchange (CME). […]

The Chicago Mercantile Exchange (CME) has issued a press release announcing their intention to widen the scope of snowfall futures and options which can be traded on the exchange. Four new locations will be added for monthly and seasonal snowfall futures and options while new Snowfall Index Binary Options Contracts are to be launched for […]

Here’s a question for those of you interested in the development of new weather risk transfer products. Could something be developed to allow insurance companies who have motor lines to hedge against the risk of increased accidents due to the weather? It’s widely accepted that poor weather, particularly an increase in rainfall, will cause an […]

Risk Management Solutions have sold their Climetrix weather derivatives software and data franchise to MDA EarthSat Weather. A copy of the press release is below. ROCKVILLE, MD–(Marketwire – October 6, 2009) – Effective September 30, 2009, MDA EarthSat Weather (‘EarthSat Weather’) has acquired from Risk Management Solutions (‘RMS’) the entire weather derivatives software and data […]