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Weather Protection provides custom weather coverage for growers around the United States. It doesn't matter what type of crop you grow or what time of the year it's grown.
Weather-Proof Revenue & Profits
Weather Protection coverage can be customized to specifically protect your bottom line and cover costs from freeze events, drought, too much rain, or heat. There's no set coverage period and no deadlines by which coverage must be purchased. It's up to you. You can protect a series of days, a month, a season or specific growing period like harvest or pollination.
Different from Crop Insurance
Crop insurance pays out based on demonstrated loss. Weather Protection coverage pays for bad weather. With Weather Protection, there is no claims process. Weather Protection coverage can be priced and purchased year-round, up to four days before the desired protection period. Weather Protection can cover 100% of loss and there are no limitations or exclusions.
Flexible Coverage
Weather Protection helps make profits predictable even if the weather isn't. You can customize, price and purchase weather coverage online in minutes. This coverage will pay you when bad weather affects your profits without any hassle.
Get Paid for Bad Weather
With Weather Protection, your payout is based solely on weather data, not human assessment. Payout is determined by weather data measured by the government near your location. You will receive a full report showing the audited weather data that was used to determine payout from your contract. Weather Protection coverage does not require proof of loss so your payout check is in the mail as soon as all the weather data is available (usually the day after the coverage ends).
Sample Weather Protection Coverages
Excessive Precipitation: Wet Spring
Jeff Anderson grows corn and soybeans near Ames, Iowa and is concerned because he has been unable to plant the month of April and more rain is in the forecast. Late planting and detrimental impact on yields is feared.
Coverage Purchased: "Rainy Season"
Jeff creates custom weather coverage that will pay him $100 per acre for every inch that the total rainfall is over 4 inches from April 30 to May 12. This type of coverage would have paid Jeff in the years 2003, 1997, 1996, 1993 and 1986. Cost $12.15 per acre.
Drought Protection: Too dry after planting
Mike Huggins grows corn and soybeans near Peoria, Illinois and is concerned about a dry spring and low soil moisture going into the summer. He has scaled back on crop insurance coverage and feels vulnerable.
Coverage Purchased: "Dry Season"
Mike buys weather protection that will pay him $100 per acre for each inch under 3.5" from June 15 to August 15. This coverage would have paid out in 2002, 1997 and 1998. Cost: $15.01 per acre.
Freeze Protection: Early Killing Frost
Doug Bramson is a corn, soybean and wheat producer just outside of Lafayette, Indiana. He has about 200 acres of replanted soybeans and is worried about them making it to maturity. The yield potential is great. They just need an extended growing season.
Coverage Purchased: "Cold Day"
Doug will be paid $100 per acre for each day the low temperature is 28 degrees or below between October 1 - 12. The coverage would have paid Doug in 2000 and 1987. Cost $15.79 per acre.
Financial Strength
Weather Protection coverage is underwritten by Nephila Capital Ltd., one of the world’s largest and most respected weather risk and catastrophe reinsurance fund managers. Nephila is registered with the US Securities and Exchange Commission and currently manages over $2.3 billion in assets. Nephila invests solely in catastrophe and weather risk (rather than traditional financial markets) on behalf of large institutional investors, and their funds have zero correlation with other financial markets. In June 2008, Nephila sold a minority stake to Man Investments (EMG.L), a publicly-traded firm with roughly $80bn in associated assets.
To guarantee payment of all contracts, Nephila fully collateralizes the portfolio of Weather Protection contracts with cash held in trust at the Bank of New York Mellon. The trust agreement requires the Bank of New York Mellon to hold funds solely for paying out potential customer payout obligations. This structure allows Weather Protection to guarantee full and complete payment, under any conditions, to all of our customers.