weather risk

Global Parametrics and specialist flood risk modeller Fathom have partnered to develop a global parametric flood index that can be used in triggers of risk transfer, insurance and reinsurance arrangements.

Arbol, the provider of marketplace technology supporting parametric risk transfer and weather insurance, utilising smart contracts, has made a key hire, bringing onboard Hong Guo from GC Securities as its Chief Insurance Officer.

Arbol, Inc., the marketplace technology provider that supports parametric risk transfer or weather insurance and utilises smart contracts, has raised a $7 million Series A funding round to help grow its business.

AbsoluteClimo, a climate and weather modeling, forecasting and risk management firm based in Hawaii, has teamed up with AKR Zell, a Singapore-based actuarial consultancy, with the collaboration set to deliver climate-driven risk services to the insurance, reinsurance and insurance-linked securities (ILS) sectors.

Global Parametrics, the parametric and index-based disaster risk transfer company, has partnered with risk modelling specialist JBA Risk Management to design a parametric flood insurance product for VisionFund to cover flood risks in Myanmar.

Global Parametrics has structured and backed with capital from its Natural Disaster Fund (NDF) two index triggered water risk transfer arrangements covering smallholder farmers in India and Tanzania, with reinsurance giant Hannover Re providing some of the risk capital to support the deals.

MSI GuaranteedWeather, LLC, a weather risk transfer focused subsidiary of MS&AD’s Mitsui Sumitomo Insurance Co., Ltd. (MSI), has developed a dual-trigger weather derivative product to help a renewable energy producer hedge the effects of two weather variables at the same time.

AbsoluteClimo, a climate and weather modeling, forecasting and risk management firm based in Hawaii, has announced upgrades to its core service of climate catastrophe risk models and climate financial modelling tools.

In light of its uncertain but apparent influence on both the frequency and severity of natural catastrophe events, it’s no surprise that climate change is at the forefront of the minds of catastrophe risk underwriters, investors and of course model vendors, but it’s important to remember that this is not the only uncertainty.

Vortex Insurance Agency, a specialist parametric insurance and weather risk transfer agency backed by the MS&AD group’s Mitsui Sumitomo and a subsidiary of MSI GuaranteedWeather, LLC, has launched a new online portal through which businesses can buy parametric rainfall insurance instantly.