Weather risk management and weather derivatives trading news

ICICI Lombard, the Indian insurer who have championed weather risk protection on a microinsurance basis, are launching yet another pilot scheme aimed to help rural farmers.

SmartWings, the Prague based low cost airline, has added the ability to purchase weather insurance into it’s website booking process through a partnership with weather cover provider Airsavings. They are currently offering rainfall protection to travellers but hope to extend that to offer cover for a lack of sunshine and hope to branch out to […]

Parts of Russia are currently suffering from their worst drought conditions for years with some areas not having had any rain since April. This extreme dry season has occurred after the most severe winter suffered by Russia in many years which destroyed winter crops. So Russian farmers are having a particularly bad time of it […]

The winners of the annual Environmental Finance Awards 2010 have been announced. The awards, from the long running monthly magazine which covers areas of finance and risk which touch on the environment, recognise excellence in the application of financial markets knowledge to the worlds pressing environmental issues. Each year they hand out awards for the […]

The China Daily newspaper is today reporting that the country may have it’s first weather insurance policies before the end of the year. The policies will be designed to help farmers cope with economic losses and hardship resulting from natural disasters.

The Caribbean Catastrophe Risk Insurance Facility (CCRIF) is doing a good job of providing governments of the Caribbean with certainty that they will receive payments should storms or hurricanes above a certain magnitude hit their islands. It also see’s itself as a potential source of agricultural crop weather insurance.

WeatherBill have today launched a new product aimed at people from the U.S. who are going on vacation and want some piece of mind that should it rain they will get some financial compensation.

Russian newspapers are reporting that their government has been discussing plans to save the country’s agricultural industry from drought risks. The Russian government want to shift the burden of agricultural weather risk to the private sector and insurers in particular.

Washington, DC, May 27, 2010 — Members of the Weather Risk Management Association (WRMA) elected Members of the Board and a roster of association Officers at its 12th Annual Meeting in Miami, Florida held earlier this month.

“Broadening Our Reach” was the theme of WRMA’s 12th Annual Meeting, held on May 10-12, 2010 in Miami, Florida. The meeting showcased how wide the market’s reach has become with a packed audience of over 75 people hailing from North America, Europe, India and Australia.