All posts tagged weather risks

Energy Companies and Portfolio Managers Risk Exposure to Winter Volumetric and Price Risks

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

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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Spain’s Olive Growers’ Association Launches Meteo Protect’s Weather Insurance Platform

The largest professional agricultural association in Spain, the Agricultural Association of Young Farmers (ASAJA JAEN), has launched Meteo Protect’s dedicated weather insurance platform in order to provide its 22,000 affiliates access to Meteo Protect’s fully customized index-based weather insurance and increase their resiliency against climate-related risks.

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Millions lost annually throughout the travel industry as a result of the weather

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It is the season of summer vacation, and one would be hard-pressed to find anyone not spending a considerable amount of time contemplating the weather and how it may be enjoyed or coped in the weeks ahead. The considerations are endless: when buying airline tickets and praying fights aren’t delayed or cancelled, packing for all eventualities (despite increasing limitations on baggage by airlines in recent years), and when booking tours and activities in advance, to name a few. However, despite all this attention to the weather, the possibilities for comprehensive insurance coverage for all aspects of the travel industry remain extremely limited.

Presently, the largest proportion of insurance for the travel sector is for airlines insuring against business losses due to aircraft damage or loss, in the same way that travellers can insure for enhanced medical expense coverage, trip cancellation/interruption coverage due to work reasons and involuntary job loss, emergency travel, etc.  For both sides of the equation, the traditional insurance scheme usually entails a standard one-fits-all cover, a deduction, and a field loss assessment.  For both, weather risks are not widely taken into consideration and the opportunities for more comprehensive and effective insurance for all aspects of the travel industry have surprisingly not been widely embraced.

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