All posts tagged adverse weather

Meteo Protect Nominated for the European Fintech Awards 2017

Meteo Protect, an SAP® Startup Focus member, and Europe’s leading provider of weather risk insurance, has been nominated by stakeholders, users and experts as a leading “Insur Tech” for the European Fintech Awards 2017.  Winners will be determined by a combined public vote and expert assessment, with awards being given at the European Fintech Awards and Conference in Brussels on 27 September.  The European Fintech Awards 2017 celebrates “innovators that shape the future”.


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Zurich Insurance, Astral Foods, FirstGroup, and Bossini blame profit warnings on the weather

As shares plummet, how much longer will investors accept the finger pointing?

NYSE

Blaming the weather appears to be a long and noble tradition, supported by leaders in every industry, across the globe. Take 2016, for instance; this year, the weather has already been cited by an incredible array of business leaders for a range of spectacular losses.

Sports Direct, the United Kingdom’s largest sporting retailer, operating roughly 670 stores worldwide, was the first out of the gates. It issued a profit warning on January 8 announcing that it expected to miss its target for underlying profits due to unexpectedly warm weather over the Christmas period. That warning sent shares falling 14%. It was a real surprise after the company had just one month earlier confirmed it would hit its targets for this financial year during the reporting of its half-term results.

FirstGroup, the leading transport operator in the UK and North America, quickly followed suit, issuing its own profit warning that the floods that hit Britain over the winter had resulted in revenues falling by 9.5 percent in the third quarter and that operating profits for the year would be “slightly lowered”. Similarly, Zurich Insurance released a profit warning of an estimated 100 million further quarter business operating loss for its general insurance business as a result of the high number of claims following the British floods. Shares plummeted 9% following the release.

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Under Construction

construction

It is said that the road to success is always under construction. But what if the construction itself must be delayed or come to a halt entirely? A construction company can try to schedule its work around favourable weather conditions, but there is only so much that can be done if Mother Nature is being disagreeable. Traditional risk management solutions such as severe weather management guidelines and liability insurance have been inadequate in insuring against the delays and increased costs associated with the effects of inclement weather on a job site. Fortunately, new industry solutions are now available to address the increasingly significant risks affecting the construction industry.

It is considered one of Canada’s most enchanting places, where the mountains meet the sea. One might alternatively spot a moose, bald eagle or pilot whale while strolling the world-famous Cabot Trail coastline. The complex habitat of norther Cape Breton Island is diverse, its natural wonders and cultural treasures drawing tourists from near and far each summer. Of course, it would not be a true Canadian summer without seeing the other all-too familiar local summer highlight though: the ubiquitous roller, the screed, asphalt raker, or stone spreader.

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Heat waves and the cool risk management solutions for companies affected by them

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An ice cream parlour that closes in the throes of summer, refreshing soft drinks and beer being eschewed by customers when the mercury soars… What to make of consumer behaviour and how businesses compete and manage their risks in the summer months

Nestled in a quiet neighbourhood on the picturesque Ile St. Louis, in Paris, France, is possibly the most celebrated ice cream maker in the world, so well-known for its artisan quality and variety of ice creams and sorbets, lines routinely stretched around the block to its discrete bistro. This iconic glacier is a celebrated and essential component of the Paris experience, for aficionados and tourists alike. Yet, in the hottest month of the Paris summer, when ice-cream is undoubtedly the most in demand, and visitors are arriving in droves to the capital eager to sample this incontournable classic, Berthillon remains, in what can only be described as one the greatest snubs of capitalism, firmly, resolutely, even aggressively, shut. An ice cream parlour closed, the entire month of August. Sacrilège!

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