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Tradition Re, the US reinsurance division of interdealer broker Tradition, has completed a Dutch auction on behalf of a reinsurer aiming to hedge risk during the 2010 hurricane season in Florida.
NRG Energy, a US-based utility, has closed an innovative index-based hedge with global insurance broker Willis designed to cut the cost of hedging against hurricane risk.
Online derivatives exchange HedgeStreet has launched contracts based on the value of damage caused in the 2006 hurricane season.
In response to industry fears of a collateral crunch, regulators have revised the proposed rules on margining for uncleared over-the-counter (OTC) derivatives.You can find out more by downloading this white paper here.