Corney and Barrow says it was keen to secure protection following the exceptionally warm British summer of 2003 - it is fearful that of the reverse happening this year. The transaction is based on a critical number of "hot" days (as measured by daily maximum temperature) and will pay Corney & Barrow for each day that the total number of such hot days falls below the defined critical level, thereby Corney and Barrow with financial protection in the event of a poor summer.
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