weather derivatives

Mitsui Sumitomo Insurance Co. Ltd. has launched weather insurance in the United States and is targeting itself with 1 billion yen (US$11.2m) in sales within the next three years. The first Japanese based insurer to launch weather insurance in the U.S. market, the product was developed by subsidiaries Mitsui Sumitomo Insurance USA Inc. and Mitsui […]

The United Kingdom is experiencing an extremely cold spell of weather at the moment. Last night temperatures dropped to -8C in some areas and temperatures have been below freezing for much of the last two weeks. The Telegraph newspaper reports that ‘sub-zero temperatures are causing an “alarming” number of water damage claims in homes across […]

You may have seen a press release on the Artemis news page today discussing the iTravel2000 ‘Let It Snow’ weather refund promotion backed by weather risk firm Weatherbill. The promotion promised to refund customers who booked a holiday in a defined period if a certain amount of snow fell on set locations in Canada on […]

Another year is coming to a close. With 2009 on the horizon it seems like a good time to look back at the top ten most viewed posts on Artemis.bm of the year. Since the relaunch of Artemis.bm in March this year, the website and blog has had over 13,000 unique visitors who between them […]

Weather refund promotions backed by weather insurance and derivatives appear to be all the rage at the moment. The latest one to come to light is a promotion from Knar Jewellery called ‘Let it Snow‘. The promotion, being run for their 30th anniversary of business, offers a refund to anyone who bought a product in […]

Reinsurers Swiss Re and Munich Re have both been engaged in an initiative from the Climate Group called the Climate Principles. The aim of the initiative is to set some guiding principles that provide a voluntary framework to guide the finance sector in tackling climate change. The principles aim to provide strategic direction on managing […]

Good article here in the Chattanooga Times Free Press discussing the use of weather insurance to protect an outdoor event from losses. The article demonstrates the wide availability of weather risk management cover these days and also that it’s not as expensive as many may think. There does perhaps need to be new ways to […]

Weatherbill have published a great paper looking at their recent weather refund promotions in more detail. We’ve written about some of their deals in the past; the recent Rain Check deal with Sunquest Vacations, Sunshine Guaranteed for Priceline.com, Let It Snow for iTravel2000 and their deal guaranteeing the weather at the Wimbledon tennis tournament. All […]

Weatherbill have struck a deal with another holiday company to provide weather insurance to their customers. Sunquest Vacations, a Canadian travel company, are offering a policy called RainCheck which acts as a rainfall protection guarantee by offering another trip to travelers with the policy who experience rainfall of half an inch for half the days […]

Every so often I come across research papers that I just want to share with the Artemis readership and today I received a press release for a particularly apt one given the current financial climate. Weather Trends International have released a paper on weather trading and it’s correlation to financial market swings titled ‘What’s the […]