All posts tagged weather risk management

France winemakers subscribe to weather insurance for the second year following extreme temperatures in Western Europe

Following freezing cold temperatures and frost across Western Europe during 2017’s critical spring growing period, Lloyds Coverholder Meteo Protect confirms a dramatic increase in France’s winemakers subscribing to parametric weather insurance in its second year offering. May 31st saw a conclusion to its spring frost risk coverage, which saw a 15 fold increase in viticulturists subscribing, and the same increase in the number of brokers in France adding the coverage to their portfolio. Continue Reading

Farmers seek parametric insurance after catastrophic losses across France linked to climate volatility

As the leading producer of wheat across Western Europe, France’s catastrophic losses in yields at their highest in over half a century have been met with alarm in the region. Researchers at three leading think tanks recently came together to research the link in production shortfalls to climate volatility. Their findings have put into question the viability of existing agricultural production systems and the sustainability of future crop yields, while at the same time signifying the urgent need for new financial protection for producers. Continue Reading

Mild winter temps reduce energy consumption equivalent to 12 nuclear power plants

Whilst this month’s mild temperatures across Europe have been pleasant to many of us, they represent a very real financial risk for energy providers, who sell much less electricity and gas than during a cold year due to a reduction in use of heating appliances.  In fact, during the first 3 weeks of January, temperatures reached their highest levels since 2010, with a significant impact on energy consumption.  The average power consumption in France is more than 12GW lower than at the same period last year, or the equivalent of the production of 12 nuclear power plants! Continue Reading