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Weather cancellation insurance reduces an organization’s risk in planning an outdoor event. When a company or organization is holding a concert, running a special event, having a sale, or executing any form of outdoor activity and the weather prevents that activity from taking place, the organization risks losing whatever money that has been invested in the planning, organization, marketing ...
A wide range of capital providers make markets in weather risk. To date the weather risk management trading market is primarily made up of dedicated weather trading operations, such as Nephila Capital Ltd, Galileo Weather Risk Management Advisors LCC, Swiss Re, RenRe, and Coriolis Capital, who execute trade orders in weather or weather-contingent commodity trades, the trading desks of ...
Ubimet was established in Vienna, Austria, by Dr. Michael Fassnauer and Manfred Spatzierer in September 2004 under the name Meteomedia GmbH.It began by providing weather services to institutions such as the German Press Agency, Austrian Federal Railways, [1] and Uniqa Insurance Group.
The insurance industry has been criticized by environmental activists and Democratic Party lawmakers for continuing to provide coverage to fossil fuel companies, while Republican Party lawmakers have criticized the industry for curbing policy coverage to oil-and-gas companies (even though most U.S. insurance companies have generally refrained from doing so in contrast to insurers ...
The company began as a startup focused on helping people and businesses manage and adapt to climate change, by providing weather insurance to ski resorts, large event venues, and farmers. In 2010, it decided to focus exclusively on agriculture, and launched the Total Weather Insurance Product in fall 2010 for corn and soybeans. [2] [3]
Weather Trends International offers two services for the retail industry, one for small businesses and one for large retailers. Both products offer long-range forecasts a year out. The company's Equity Report is for financial planners, hedge fund managers and others following weather information to gauge success in the stock market. [10]
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