Index-based weather risk protection platform, weatherXchange, has added Australian weather risk broker, Risk Solutions International (RSI), to its network of weather risk management services.
RSI will be listed as a Regional Specialist for Australia covering energy, utilities, mining, transport, agriculture and construction.
“We are excited to add Risk Solutions International as a Broker-Advisor to the weatherXchange platform,” said David Whitehead, Co-Chief Executive Officer (CEO) of weatherXchange; “Risk Solutions International has proven itself as a market innovator in index-based weather risk management in Australia.
“Partnering with market leaders is part of our strategy and contributes to our vision of establishing weatherXchange as a hub of worldwide weather risk market activity.”
Roger Currie of RSI said the weatherXchange platform will expand clients’ ability to leverage weather risk transfer as well as enable RSI to “collaborate with clients and Protection Sellers like never before. It will also help to raise awareness with businesses across a broad spectrum that the effects of weather risk can be managed in a way that actually advances their business.”
The innovative global platform that offers companies access to index-based, or parametric weather risk protection, providing post-trade valuation and settlement services, recently announced Sompo and Mitsui Sumitomo as providers of indicative pricing for the platform’s Instantaneous Indicative Pricing service.
Furthermore, in June, weatherXchange named AXA as the latest addition to the platform’s group of ten sellers offering weather risk coverage, AXA will be equipped to respond to price requests received via the platform.
