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Weather Risk Management
Weather risk management is a type of risk management done by organizations to address potential financial losses caused by unusual weather. Overview Energy, agriculture, transportation, construction, municipalities, school districts, travel, food processors, retail sales and real estate are all examples of industries whose operations and profits can be significantly affected by the weather. Unexpected weather events can cause significant financial losses. For example, unusually mild winters diminish consumer demand for heating and erode the profit margins for utility companies. Weather information and forecasts utilized in risk management decision making is often referred to as meteorological intelligence and offered by companies such as Metswift. The weather risk market makes it possible to manage the financial impact of weather through risk transfer instruments based on a defined weather element, such as temperature, rain, snow, wind, etc. Weather risk management is a way for or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk Management
Risk management is the identification, evaluation, and prioritization of risks, followed by the minimization, monitoring, and control of the impact or probability of those risks occurring. Risks can come from various sources (i.e, Threat (security), threats) including uncertainty in Market environment, international markets, political instability, dangers of project failures (at any phase in design, development, production, or sustaining of life-cycles), legal liabilities, credit risk, accidents, Natural disaster, natural causes and disasters, deliberate attack from an adversary, or events of uncertain or unpredictable root cause analysis, root-cause. Retail traders also apply risk management by using fixed percentage position sizing and risk-to-reward frameworks to avoid large drawdowns and support consistent decision-making under pressure. There are two types of events viz. Risks and Opportunities. Negative events can be classified as risks while positive events are classifi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Weather Derivative
Weather derivatives are financial instruments that can be used by organizations or individuals as part of a risk management strategy to reduce risk associated with adverse or unexpected weather conditions. Weather derivatives are index-based instruments that usually use observed weather data at a weather station to create an index on which a payout can be based. This index could be total rainfall over a relevant period—which may be of relevance for a hydro-generation business—or the number where the minimum temperature falls below zero which might be relevant for a farmer protecting against frost damage. As is the case with parametric weather insurance, there is no proof of loss provision. Unlike "indemnity" insurance-based cover, there is no need to demonstrate that a loss has been suffered, however an indemnity insurance policy for weather is a rarely utilized instrument. Settlement is objective, based on the final value of the chosen weather index over the chosen period. I ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
MeteoGroup
MeteoGroup was a private weather forecasting organisation based in Europe, with offices in Belgium, Canada, France, Germany, Ireland, Italy, the Netherlands, the Philippines, Poland, Singapore, Spain, Sweden, Switzerland, Turkey, the United Kingdom, and the United States. MeteoGroup provided weather information to markets that included transport, marine, agriculture, energy and the media. MeteoGroup had a portfolio of weather apps: WeatherPro, MeteoEarth and Magical Weather. In 2013, MeteoGroup was acquired by General Atlantic. In 2018, MeteoGroup was acquired by TBG AG. In November 2019, MeteoGroup was integrated into US weather services company DTN (also owned by TBG). History In 1986, Meteo Consult B.V, was set up in the Netherlands by Harry Otten, a Dutch TV weather presenter. It was one of the first European private-sector weather businesses. At that time, the Royal Netherlands Meteorological Institute dominated all the Dutch markets and access by private companies t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
EDF Energy
EDF Energy is a British integrated energy company, wholly owned by the French state-owned EDF (Électricité de France), with operations spanning electricity generation and the sale of natural gas and electricity to homes and businesses throughout the United Kingdom. It employs 11,717 people, and handles 5.22 million business and residential customer accounts. History EDF Energy Customers (trading as EDF) is wholly owned by the French state-owned EDF () and was formed in January 2002, following the acquisition and mergers of Seeboard plc (formerly the South Eastern Electricity Board), London Electricity plc (formerly the London Electricity Board or LEB), SWEB Energy plc (formerly the South Western Electricity Board), Virgin Energy, two coal fired power stations and a combined cycle gas turbine power station. The new group was initially led by MD John Kinsey and Marketing and Sales Director Gary Tubb, both from Virgin Energy. In 2009, EDF took control of the nuclear genera ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dupont Pioneer
Pioneer Hi-Bred International, Inc., a subsidiary of Corteva, is a U.S.-based producer of seeds for agriculture. It is a major producer of genetically modified crops with insect and herbicide resistance. History In 1926, farm journal editor and future U.S. Vice President Henry A. Wallace, along with a group of Des Moines, Iowa businessmen, founded the Hi-Bred Corn Company. The group included Henry's brother James W. Wallace, Fred Lehmann, J. J. Newlin, Simon Casady Jr. and George Kurtzweil. Wallace had been experimenting with hybridization of corn and became convinced that hybrid seed corn would become important. Several generations of the Casady family were shareholders or officers at Pioneer, including Simon Casady Jr.'s son Simon Wheeler Casady III, who was a Pioneer director, secretary, and major shareholder. Simon Casady Jr.'s wife Grace Margaret Wheeler Casady was also a major shareholder. Simon and Grace's daughters Hortense Oldfather and Rose Casady McCay were also ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Climate Corporation
The Climate Corporation is a digital agriculture company that examines weather, soil and field data to help farmers determine potential yield-limiting factors in their fields. History The company was founded as WeatherBill in 2006 by two former Google employees, David Friedberg and Siraj Khaliq. 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. In late 2010 and early 2011, SV Angel invested in WeatherBill's Series B. On October 11, 2011, WeatherBill changed its name to The Climate Corporation. In June 2013, the U.S. Department of Agriculture's Risk Management Agency authorized the Climate Corporation to administer federal crop insurance policies for the 2014 crop year. In October 2013, Monsanto a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alternative Risk Transfer
Alternative risk transfer (often referred to as ART) is the use of techniques other than traditional insurance and reinsurance to provide risk-bearing entities with coverage or protection. The field of alternative risk transfer grew out of a series of insurance capacity crises in the 1970s through 1990s that drove purchasers of traditional coverage to seek more robust ways to buy protection. Most of these techniques permit investors in the capital markets to take a more direct role in providing insurance and reinsurance protection, and as such the broad field of alternative risk transfer is said to be bringing about a convergence of insurance and financial markets. Areas of activity A major sector of alternative risk transfer activity is risk securitization including catastrophe bonds and reinsurance sidecars. Standardization and trading of risk in non-indemnity form is another area of alternative risk transfer and includes industry loss warranties. In addition, a number of a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Weather Derivatives
Weather derivatives are financial instruments that can be used by organizations or individuals as part of a risk management strategy to reduce risk associated with adverse or unexpected weather conditions. Weather derivatives are index-based instruments that usually use observed weather data at a weather station to create an index on which a payout can be based. This index could be total rainfall over a relevant period—which may be of relevance for a hydro-generation business—or the number where the minimum temperature falls below zero which might be relevant for a farmer protecting against frost damage. As is the case with parametric weather insurance, there is no proof of loss provision. Unlike "indemnity" insurance-based cover, there is no need to demonstrate that a loss has been suffered, however an indemnity insurance policy for weather is a rarely utilized instrument. Settlement is objective, based on the final value of the chosen weather index over the chosen period. If ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
