Australian cyclone derivative ‘proves resilience of traditional cat insurance market’

Cyclone Nilam (Photo - NASA)

An innovative Australian weather risk transaction designed to protect a mining operation from costs incurred by a cyclone event demonstrates the continued appetite for bespoke catastrophe insurance contracts despite the rapid advance of insurance-linked securities (ILS) this year, according to Willis.

The transaction, completed on December 3, protects mining company Roy Hill Holdings from costs arising from delays caused by cyclones that strike the Pilbara region of Western Australia until 2015.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: