Washington, United States
Recognizing the importance of weather and its influence on India's agricultural sector, the Weather Risk Management Association (WRMA) is holding a seminar on February 26, 2007 at the Hilton Towers in Mumbai. The meeting will focus on how weather risk management tools can be used to mitigate risk in India's agricultural sector, which accounts for more than 25 percent of the country's gross domestic product. Weather risk management tools include weather futures, derivatives and insurance.
"India is an important emerging market for weather risk management tools," says Valerie Cooper, executive director of WRMA. Many of India's top experts on risk, weather and agriculture will be addressing the meeting, including Professor K. Krishna Kumar of the Indian Institute for Tropical Meteorology; Rupalee Ruchismita of the Centre for Insurance and Risk Management; and Satish Chandra, joint secretary (credit and cooperation) of the Indian Department of Agriculture and Cooperation. Sessions include the current status of the Indian weather risk market, the demand for weather risk transfer and how to provide it, the regulatory framework for the weather risk market in India, and Indian weather data analytics.
"The Association is pleased to be working with the Indian financial community and the government to provide this seminar," says Gearoid Lane, president of WRMA. "The Mumbai meeting will help foster global growth for the weather market and will provide information on how India's agricultural sector can counter the impact of the region's weather," he says.
The meeting is open to non-members and members of WRMA. The registration fee is US$100.00 per person. Pre-registration is required. To register and to view the complete agenda of the meeting, please visit WRMA's website - http://www.wrma.org. Corporate sponsors for the Mumbai seminar are ABN Amro Bank, Galileo Weather Risk Management Ltd., and Swiss Re.
Press and analyst passes are available for this meeting by contacting Hope Mathis in Washington, DC at +1 202-289-3800 or hmathis@kellencompany.com.
About the Weather Risk Management Association
Founded in 1999 by some of the leading companies in the industry, the Weather Risk Management Association (WRMA) is an international trade organization dedicated to promoting the industry, both to those within it and to end-users. The industry began in 1997, offering companies the opportunity to control their financial exposure to weather conditions. As a part of its mission, WRMA initiates surveys of the industry, advocates the standardization of contracts and other documentation used for transactions and sponsors forums and conferences around the world for members to meet and discuss a range of topics, such as international markets, data collection issues, and tax and legal matters.
CONTACT: For Weather Risk Management Association Valerie Cooper +1 202-289-3800 vcooper@kellencompany.com
CONTACT: For Weather Risk Management Association Valerie Cooper +1 202-289-3800 vcooper@kellencompany.com
Source: Business Wire (Business Wire India)