Magazine article Risk Management

Weather Developments

Magazine article Risk Management

Weather Developments

Article excerpt

Since the inception of the weather derivatives market three years ago, the increased interest in its offerings has generated a need for business advisors to support this genre. Heeding the call, such companies as Speedwell Derivatives, in London, and U.S.-based Risk Strategies Corporation have begun to offer weather derivatives consulting as part of their businesses. Most national meteorological offices also offer tailored forecasts and research into the reliability of such reports, but these services lack a business perspective.

A start-up based in the United Kingdom has taken this niche-need a step further in becoming the first weather derivative specialized consulting firm. Weather Risk Advisory Ltd., launched in late 1999, offers software solutions and consulting to companies around the globe. Their client list already includes two international top ten banks, insurers, traders and a U.K. regional electricity company.

"It quickly became clear that the market required specialist advisory services," says the CEO and founder of Weather Risk Advisory, Peter Brewer. …

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