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COLD WAVE COVER
WEATHER OPTION - COLD WAVE COVER
Optimize the cost of a protection against price spikes in case of cold wave
HOW DOES IT WORK ?
[Jola & Client] Definition of cover parameters : risk period, reference weather station, index, strike, exit (cap/floor), tick, maximum payment amount
[Jola & Client] Selection of the counterparty (risk taker)
[Assureur & Client] Signature of the contract and payment of the premium at least 15 days before the start of the coverage period
At the end of the coverage period
[Jola] Collection of weather data
[Jola] Sending the calculation report to the Client and the Risk Taker
[Insurer] Payment of the payoff to the Client
HOW MUCH DOES IT COST ?
The insurance premium depends on the contracts parameters
Typically between 5% and 15% of the maximum payout
Examples (Europe, based on Freezing Degree Days)
Jola is an independent risk management consultant and insurance broker with strong expertise in weather risk management and parametric insurance structuration.
Jola is a French "Société par Actions Simplifiée" with variable capital of 5.000 €, which registered office is at 74 A rue Lecourbe, 75015 Paris - France. Jola is registered in the Paris Trade and Companies Register under number 834 358 111. Jola is registered in the French registry of insurance intermediaries under number 18 007 161. Jola benefits from the free provision of services across the EU and is therefore authorized to distribute insurance to all clients in the European Union.