weather insurance

Meteo Protect, a weather risk management, data, pricing, broking and structuring firm has entered into a strategic partnership with banking group BNP Paribas to offer its corporate and institutional clients weather risk transfer products.

Microsoft Corp. has revealed that it was a buyer in the first transaction to use the innovative wind farm weather hedging revenue product created by Allianz Risk Transfer (ART) with the help of Nephila Capital.

Businesses across the globe should look to the capital markets in order to transfer basic catastrophe risks and weather risks off their balance sheets, for the benefit of both the cedent and the insurance-linked securities (ILS) space, according to ILS experts at JLT Capital Markets (JLTCM).

London domiciled insurance and reinsurance company Beazley has launched Cancellation Plus in the UK, a parametric rainfall product that’s sold alongside its event cancellation product, which provides event organisers with protection against reduced revenue as a result of rainfall occurrence.

The University of Cambridge Centre for Risk Studies has released a report exploring the potential impact space weather could have on the U.S. economy and insurance industry, noting that its stress test scenario shows the insurance industry could face losses of as much as $334 billion.

Alternative product specialist insurance and reinsurance firm Allianz Risk Transfer has closed a second innovative weather hedging revenue management transaction for a wind farm with the help of insurance linked asset manager Nephila Capital.

The Weather Risk Management Association (WRMA), a global trade organisation with a focus on promoting the weather risk management industry, has revealed that it’s appointed new board members and officers for the 2016-2017 year, at its 2016 annual meeting in Miami, Florida.

International renewable energy underwriting specialist, GCube, has bolstered its weather risk transfer underwriting team for the wind and hydroelectric energy markets, as it looks to increase its penetration of the U.S. weather insurance and risk management market.

Insurance linked asset manager Nephila Capital and alternative product specialist insurer and reinsurer Allianz Risk Transfer have partnered to deliver an innovative weather hedging product for a wind farm, in the form of a 10-year Proxy Revenue Swap.

Sciemus, the London-based specialist risk modelling and analytics firm for insurance and reinsurance markets, has launched what it terms a “unique” weather hedging management product, an index-based lack of sunlight insurance cover for solar farm operators.