weather risk

Some of the most damaging and costliest natural catastrophes over the last few years have been caused by unwavering, or persistent, extreme weather conditions, according to research by reinsurance giant Munich Re.

The Climate Insurance Fund, an initiative set up by German Development Bank KfW, aiming to improve access to and the use of weather and climate insurance in developing countries, has signed up BlueOrchard partnered with weather index insurance specialists CelsiusPro, to manage the fund.

AXA’s specialist digital insurance and banking seed fund, AXA Seed Factory, has partnered with AXA Corporate Solutions and French climate and weather services firm Climpact-Metnext, to launch ClimateSecure, an insurance and weather-risk management platform.

As the impacts of global warming and climate change continue to cause debate and uncertainty, the possible effect that changing weather patterns have on La Nina and El Nino events has been the research of certain scientists for some time now.

Speedwell Weather, a provider of weather data, forecasts, software, analytics and consultancy to the weather risk management and derivatives market, has expanded its Speedwell Commodity Product to enhance the granularity of data available.

One of the world’s largest reinsurance firms, Swiss Re, recently announced that two million African smallholder farmers are now protected against drought, floods and other natural perils, thanks to the efforts of the World Bank and Swiss Re Corporate Solutions.

Speedwell Weather, a provider of weather data, forecasts, analytics, consultancy and software to the weather risk management and derivatives market, has expanded the range of data available through its SuperPack product.

The trend towards greater frequency and severity of weather risk events in Europe, resulting in a higher risk of losses to insurers and reinsurers, requires an adjustment to the perception of risk as well as bespoke reinsurance solutions, Munich Re said this morning.

Endurance Global Weather, the weather-driven risk management products division of Bermuda reinsurance firm Endurance Specialty Holdings, has announced the hire of Michael Grundmeyer as Director of Origination for the Americas.

The world’s largest reinsurance firm Munich Re’s U.S. weather derivatives and energy commodities trading unit Munich Re Trading LLC complements the reinsurers core operations and is highly strategic to its parent, according to S&P.