This past summer’s record-high temperatures in Southern Europe have demonstrated that without appropriate weather hedges in place, large energy consumers, energy companies and portfolio managers can be exposed to a dangerous level of weather risks. As winter approaches, unusually mild or extremely cold temperatures are a further threat. Now is the time for these businesses to buy a hedge to protect themselves from temperature uncertainties or risk aggregated losses as the effects of climate change continue to bring unseasonal weather and unexpected and extreme weather events. Continue Reading
All posts tagged unseasonable weather
100% of Spanish olive farmers covered for unseasonal weather received payouts following extreme temperatures
Spain’s agricultural cooperative, Asaja-Jaén, today announced that 100% of the cooperative’s membership who subscribed to parametric insurance to reduce the financial consequences of extreme temperatures on their olive fields this spring have already received compensation as a result of their coverage through Meteo Protect, following the warmest spring in the region since the beginning of the 21st century. Continue Reading
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!
Haute couture or ready to wear, does a fashion collection succeed or fail, not for the rise and fall of the hemline but instead … the mercury?
The fashion industry has recently been rocked by a pioneering new study, coming right out of the fashion capital itself. It employs the latest advancements in meteorological technology and data modelling by the engineers of Europe’s leader in climate risk management, Meteo Protect, cross-referenced with the historical sales figures recorded by the French Institute of Fashion. The study has revealed startling new insights into the vulnerability of the fashion industry.