The business area of parametric weather insurance is bundled under the brand-name of WetterProtect. This refers to insurance solutions against financial losses caused by adverse but non-catastrophic weather events such as continuous rain, severe wind or temperature. This means that losses in turnover or additional costs resulting from unfavourable weather conditions can be compensated. However, in contrast to a classic indemnity insurance policy, no proof of damage or expert report is necessary here. Claim assessment is based solely on the measurement values of official weather stations – stipulated in advance – of the German Meteorological Service (DWD).In Europe – and particularly in Germany – the weather insurance market is still in the stage of development.
At WetterProtect, we play a definitive role in market development in the German weather insurance sector by providing risk analyses, product developments and comprehensive consultancy for all stakeholders.