Weather risk management and weather derivatives trading news

Swiss Re have announced a new partnership to help bring weather derivatives to European companies with CelsiusPro. Swiss Re are providing risk capacity and transfer expertise to support an online platform built by CelsiusPro. Companies can enter into weather derivative contracts online via www.celsiuspro.com. CelsiusPro are claiming that it’s the first time small and medium […]

In India, ICICI Lombard has announced that it is extending it’s rural weather insurance product so as to make it available to mustard crop growers in the Agra, Bareli, Shahjahanpur and Hardoi districts of Uttar Pradesh.

The effects of weather risk on a countries economy depends on a number of factors including how severe the weather is in that region, how developed the nation is, how much the nation depends on weather sensitive industries such as agriculture and how much they hedge or mitigate those risks. Weatherbill have released a really […]

An interesting article has been released on the Livescience website. Written by Joanne Ho of the University of Washington it discusses some research she has been undertaking into ways to protect communities against wildfires and focuses on reinsuring the insurers who provide the cover for California fires. It mentions that by ensuring that people are […]

It would seem so. Don Palmour, owner of the Clean Car Turnpike, a car wash in Northwest Houston has covered his business against rain using the services of Weatherbill. The deal will pay out if there are more than 20 days of rain in any three month period and the rainfall is measured at the […]

Priceline, the online travel agent, has been running a promotion (which I blogged about here) on their website which offered a refund should the weather be inclement while a customer is on holiday. Weatherbill provided the structure and derivatives traded backstop for this promotion. Now some figures are emerging from one of the internet measurement […]

Weather risk management has been in the press in the last couple of days thanks to two high profile articles on Weatherbill. Weatherbill has been credited with bringing weather risk management and weather derivatives based products to the masses mainly through the clever use of technology and the internet. This isn’t surprising when you realise […]

Storm Exchange have just announced the release of their Early Autumn 2008 Weather Risk Outlook (view the full press release here). It’s full of useful forecasts and commentary as usual but one piece stood out to me. They are forecasting an early start to Autumn this year and say that this is good news for […]

The Weatherproof Garment Co. has an innovative initiative to encourage people to buy their clothing this year. The campaign dubed ‘If It’s Freezing, It’s Free’ offers shoppers who buy one of its women’s jackets in the first week of November a complete refund if the temperature in Manhattan’s Central Park on Thanksgiving Day morning is […]

India is an example of an economy still developing rapidly but already accepting weather risk management techniques right down to the end-user level. The latest news we’ve come across involves the soft drinks (and other products) manufacturer Pepsico. Their India branch has entered into a weather insurance deal with ICICI Lombard. They revealed that the […]