Weather Insurance

Weather Insurance

An insurance policy protecting one from loss of income due to adverse weather conditions. For example, a recreational horseback riding facility is unlikely to have many customers during heavy rain, which could cause significant drops in profit. Weather insurance can replace at least some of what the profits would have been. It is a type of business interruption insurance.
References in periodicals archive ?
The Climate Corporation combines Big Data climatology and agronomy to protect the global agriculture industry from increasingly extreme weather with fully automated weather insurance products.
The project is also developing a weather insurance model for agricultural and aquacultural products to provide protection against damages from extreme weather events, and is introducing it to the market.
IFC said, IFC has conferred millions of dollars in performance-based grants and contracts to help extend weather insurance to tens of thousands of farmers in Africa, protecting them from natural disasters and weather-related risks that can destroy their livelihoods at a stroke.
is buying a long-term weather insurance policy from Bermuda's Aegis Insurance to protect Peoples from the negative earnings impact of warmer-than-normal weather.