MLchartDataset catalogue

Weather risk transfer (WRT)

Term · Insurance and risk management · MLC-T-INS-003523

A financial transaction designed to mitigate the adverse financial impact of unfavorable weather conditions on a business or individual. This involves using financial instruments, such as derivatives or insurance policies, to transfer the risk of specific weather events, like insufficient rainfall or extreme temperatures, to another party. Payouts are typically triggered by objective weather indices rather than actual losses.

Table 1. Record
IdentifierMLC-T-INS-003523
FieldInsurance and risk management
AbbreviationWRT
Record as JSON 
{
  "id": "MLC-T-INS-003523",
  "term": "Weather risk transfer (WRT)",
  "field": "Insurance and risk management",
  "definition": "A financial transaction designed to mitigate the adverse financial impact of unfavorable weather conditions on a business or individual. This involves using financial instruments, such as derivatives or insurance policies, to transfer the risk of specific weather events, like insufficient rainfall or extreme temperatures, to another party. Payouts are typically triggered by objective weather indices rather than actual losses.",
  "abbreviation": "WRT",
  "url": "https://mlchart.com/terminology/insurance/weather-risk-transfer-wrt/"
}

Record 3,610 of 3,682 in Insurance and risk management terminology (MLC-0106). Request the full dataset.