Weatherbill, a company we have written about many times who offer weather insurance products linked to actual weather conditions and often underwritten by weather derivatives trading, have decided to change their company name to better reflect their mission to help the world’s people and businesses adapt to climate change. The company will now be called The Climate Corporation and have changed their website address to www.climate.com.
At the moment Weatherbill / The Climate Corporation specialise in offering products to farmers through their Total Weather Insurance product range, although they did offer a broader range of products through weather guarantees and their RainCheck program a few years ago. We’d imagine that the branding change might see them try to broaden their coverage again to new industries and sectors.
Climate Corp. have also announced the appointment of former U.S. Senator Byron Dorgan to the company’s Board of Directors. “We are honored to have someone of Senator Dorgan’s character, experience, and passion helping us meet the needs of today’s farmer,” said David Friedberg, Chief Executive Officer of The Climate Corporation. “As we deepen our agricultural focus, we now have a company name and identity that better reflects our constituents, as well as the counsel of a distinguished public servant who has worked throughout his professional life to help the American farmer.”
In 2011 they are projecting 10x growth including a 1,000% increase in number of policies sold, insurance premiums purchased and number of customers and acres of farmland covered.