Global Weather: Risk Protection Products

Climate Risk : Global Weather: Risk Protection Products

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Product Description

Offers a range of products tailored to your specific weather-related risks. Available on a worldwide basis, our WeatherBacker^SM products are designed to be flexible and can be written as:

Insurance policies
Structured products

Minimums

Minimum premium: $100,000

Limits

Up to $10 million

Typical Client Profile

Energy utilities: variability in temperature-related demand load
Hydropower generators: low rainfall or reservoir levels
Offshore drilling rigs: work cessation due to dangerous wind or wave heights
Agribusinesses: drop in area-wide crop yields
Fruit growers: drought, flood or freeze-related damage
Construction: project delays or damage due to rain or freeze
Municipalities: high snow removal and road salting costs
Event promoters: weather-related cancellations
Retail stores: poor sales due to weather during critical shopping days

Restricted Classes or Industries

Key Competitive Advantages

Accommodates customer preference to submit claims either by showing evidence of insured loss or by citing actual experience vs. index (e.g., how many inches of rain fell or did not fall)
Allows company with multiple locations to tailor highly-customized, cost-effective solutions for each exposure
Businesses can choose:

Single event products with payouts linked to specific weather outcome, or
Blended products covering adverse financial effects of both weather and some other risk, such as power outage or property loss

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