Survey Design and Implementation (2) Geographic Regions Where Weather Events are Measured Asia Australian Continent Europe North America, West North America,

Slides:

Advertisements

Similar presentations

Britains CLIMATE – a description Cool summers 13 / 17*C Mild winters4 / 7 *C Wet 600 – 2000 mms.

Advertisements

© Zurich Re Weather Risk Management David Molyneux, FCAS.

Weather Risk Management Association 2006 Survey Results June 2006.

Draw a picture that represents yesterdays weather…. (You have 30 seconds!).

Climate Change Effects and Assessment of Adaptation Potential in the Russian Federation. Julia Dobrolyubova Expert on Climate Change and Kyoto Protocol.

1 FIRST Initiative Overview of TA activities December 2004.

Weather Derivatives [presentation to Australian Barley Board, 9 September, 2004] Dr Harvey Stern Bureau of Meteorology, Melbourne Dr Harvey Stern Bureau.

Climate Impacts Discussion: What economic impacts does ENSO have? What can we say about ENSO and global climate change? Are there other phenomena similar.

Dr Harvey Stern, Climate Manager, Victoria and Dr Harvey Stern, Climate Manager, Victoria and Griffith University Mr Glen Dixon, Associate Lecturer (Finance),

Britain’s Weather and Climate We are learning about Britain’s climate.

What causes Climate ? Text Book page #

© Zurich Re Weather Risk Management David Molyneux, FCAS.

Climate Change Adaptation. Overview Climate Change? What can we expect for changing climate in the GTA July 8 event What are we doing at the GTAA PIEVC.

THE DESERT BIOME BY: KARIS. TEMPERATURE/ SEASONS o Desert fluctuate from day to night. Winter temperatures are lower than usual in the spring and summer.

World Geography Unit 2: Patterns in Weather & Climate.

U.S. Energy Information Administration Independent Statistics & Analysis Short-Term Energy Outlook and Winter Fuels Outlook For NASEO Winter.

Why does it rain so much in the UK? Add in as many answers as possible.

Weather Derivative Applications Several Case Studies in the Australia Market will be analysed including: Weather Derivatives Theme Park Mining Power Gas.

Latest Developments in Weather Risk Management presentation to “Risk Finance”, March, 2004 The Finance and Treasury Association Dr Harvey Stern,

Climate. Weather: Refers to the current, day-to-day, short term conditions of the atmosphere.

By: Stephanie Paolone and Ben Clarke. small temperature range Bodies of water in the north and south have a warming affect on the Ontario Region ex. Great.

Earth’s Climate. Examine pages 456 and 457 in your text. From the data presented in the images and you knowledge of air movement, the atmosphere, and.

Pricing Weather Derivatives Dr Adam Kucera, EdgeCap & Dr Harvey Stern, Bureau of Meteorology Dr Adam Kucera, EdgeCap & Dr Harvey Stern, Bureau of Meteorology.

Chapter 18 – Climate and Climate Change

Richard Newell, NASEO Winter Fuels Conference, October NASEO 2010 Winter Fuels Outlook Conference October 13, 2010 Washington, DC Richard Newell,

West Virginia Climate. Climate refers to the average weather of a region over a long period of time.

U.S. Energy Information Administration Independent Statistics & Analysis EIA Short-Term Energy and Winter Fuels Outlook for National Association.

Climatevs. Weather  Climate: Average weather conditions for an area over a long period of time.  Weather: condition of the atmosphere at any given time.

By Brad Lenaway. Range Of latitude The range of latitude the Arctic is in is 65.5 degrees north.

A few Issues Highlighted in this presentation Inflow from different regions of the world Predominance of a few regions Seasonality in tourist inflow Estimated.

France John A. Borkowski/Malcolm G. Peters. Thermohaline Circulation: part of the large-scale ocean circulation that is driven by global density gradients.

The weather in India By Catherine. The climate in India There are 6 climate zones in India. It is cold in the north, and tropical in the south and west.

THE FOUR SEASONS. A SEASON is one of the four periods of the year. Each season--spring, summer, autumn, and winter--lasts about three months and brings.

The Australian Market Evolution Dr Brian Spalding Chief Operating Officer NEMMCO.

Climate Regions Weather – the atmospheric conditions at a given time and place Climate – the average weather of a place over a long period of time “Climate.

Rotation, Revolution, Tilt Rotation – The Earth Spins on an Axis that runs through the North and South Poles.

Cutting-edge Weather Risk Management (WRM) Harvey Stern & Shoni Dawkins Bureau of Meteorology, Melbourne Harvey Stern & Shoni Dawkins Bureau of Meteorology,

3.03 Understand how geography impacts hospitality and tourism destinations.

Chapter 5 Lesson 3 Global Patterns Pgs. 164 – 169 Benchmark: SC.6.E.7.3.

World Geography Climates Climates of the world. Warm up List as many climates as you can think of.

Short-Term Energy Outlook, October 2007 DOE/NASEO 2007/08 Winter Fuels Outlook Conference October 9, 2007 Washington, DC Guy F. Caruso Administrator, Energy.

FrancisciWG.2.  Certain weather phenomena are unique to specific regions.

Climate Notes. What is Climate?  Climate: Average weather conditions for an area over a long period of time.  Described by average temperatures and.

Financial Situation of the Company The last season.

By D. Jordan MONSOONS.  A seasonal prevailing wind in the region of South and Southeast Asia, blowing from the southwest between May and September and.

Seasons Video Clip: Ignite Learning “Seasons”

Climate Social Studies. Tropical Wet Tropical Wet is only found along the equator. Examples include: Brazil, Indonesia, and the Philippines. Seasons don’t.

Unit 3: Physical Systems Lesson 3: The World’s Climates.

Effects of Latitude and Climate  Weather is the condition of the atmosphere at a specific place and time. 3.2 Terrestrial Biomes  One of the keys to.

Doubling Time Project.

Understand how geography impacts hospitality and tourism destinations.

Climate and Weather.

Air masses & the UK climate

Alternative Risk Transfer and the Weather Market

CLIMATE Key question #10 What is the difference between climate and weather? How do we pictorially represent climate over a year?

Climate Connections Geo 20F.

Uncertainty in forecasts

Understanding The World

India’s Summer and Winter Monsoon Seasons

Gobi Desert The Gobi is a large desert region in Asia. It covers parts of northern and northwestern China, and of southern Mongolia. The desert basins.

Georgia's Climate Chapter 1, Section 3.

Climatology Topic V.

John Winder CAL FIRE Sacramento Headquarters

Climate Expert Australia.

WINnERS (SLU) The World Food Programme has pledged to buy at least $120 million each year in agricultural products from smallholder farmers. Climate-KIC’s.

Uncertainty in forecasts

Regional HIV and AIDS statistics 2008 and 2001

Dr Harvey Stern, Climate Manager, Victoria and

Presentation transcript:

Survey Design and Implementation (2) Geographic Regions Where Weather Events are Measured Asia Australian Continent Europe North America, West North America, Midwest North America, East North America, South Other Source: Weather Risk Management Association Annual Survey (2002 )

Participation by Main Line of Business Agriculture1 Banking4 Energy10 Insurance5 Other- Participation by Location of Respondent Asia5 Europe5 North America10 Other- Participation of 20 players Source: Weather Risk Management Association Annual Survey (2002 )

2002 Survey, General Results 1.Overall, number of contracts and notional value higher 2.Results vary by season a.Number of Winter contracts (October – April) rose b.Number of Summer contracts (April – October) fell 3.Increasing variation in type and location of contracts Source: Weather Risk Management Association Annual Survey (2002)

Survey Results, Total Number of Contracts 695 3,397 2,759 1,285 Source: Weather Risk Management Association Annual Survey (2002)

Survey Results, Total Notional Value 1,836 4,306 2,517 2,959 Source: Weather Risk Management Association Annual Survey (2002)

Survey Results, Average Notional Value by Type of Contract Source: Weather Risk Management Association Annual Survey (2002)

Survey Results, Average Notional Value Source: Weather Risk Management Association Annual Survey (2002)

Survey Results, Average Notional Value by Region Source: Weather Risk Management Association Annual Survey (2002)

Survey Results, Number of Contracts by Type Source: Weather Risk Management Association Annual Survey (2002)

Survey Results, Notional Value by Type Source: Weather Risk Management Association Annual Survey (2002)

Survey Results, Number of Contracts by Region Source: Weather Risk Management Association Annual Survey (2002)

Survey Results, Notional Value by Region Source: Weather Risk Management Association Annual Survey (2002)

Survey Results, Share of Counterparties Not Participating in Survey Source: Weather Risk Management Association Annual Survey (2002)

Survey Results, Share of Counterparties Not Participating in Survey Source: Weather Risk Management Association Annual Survey (2002)

Diversification of the weather market Another significant development is the diversification of the types of contracts that were transacted. Temperature-related protection (for heat and cold) continues to be the most prevalent, making up over 82 percent of all contracts (92% last year) Rain-related contracts account for 6.9% (1.6% last year), snow for 2.2% (0.6% last year) and wind for 0.4% (0.3% last year). Source: Weather Risk Management Association Annual Survey (2002) Another significant development is the diversification of the types of contracts that were transacted. Temperature-related protection (for heat and cold) continues to be the most prevalent, making up over 82 percent of all contracts (92% last year) Rain-related contracts account for 6.9% (1.6% last year), snow for 2.2% (0.6% last year) and wind for 0.4% (0.3% last year). Source: Weather Risk Management Association Annual Survey (2002)

Concluding Remarks An empirical approach to the pricing of weather derivatives has been presented. The approach utilises a range of data types to price weather derivatives, including forecast accuracy data. Overview of the Weather Risk Management Survey 2002 statistics have been presented. An empirical approach to the pricing of weather derivatives has been presented. The approach utilises a range of data types to price weather derivatives, including forecast accuracy data. Overview of the Weather Risk Management Survey 2002 statistics have been presented.

The Noah Rule “Predicting rain doesn’t count; Building arks does”. Warren Buffett, Australian Financial Review,11 March “Predicting rain doesn’t count; Building arks does”. Warren Buffett, Australian Financial Review,11 March 2002.

Dr Harvey Stern, Climate Manager, Victoria Homepage: and Dr Harvey Stern, Climate Manager, Victoria Homepage: and Griffith University Mr Glen Dixon, Associate Lecturer (Finance),Brisbane Mr Glen Dixon, Associate Lecturer (Finance),Brisbane Thankyou from Homepage: