French wine makers drive parametric insurance uptake

France-based weather index specialty insurer Meteo Protect S.A.S. said that the uptake of its parametric spring frost risk cover for wine makers and viticulturists grew 15-fold this year following extreme weather in 2017, Artemis.bm reports. Meteo Protect said that wine production declined 40% in the Bordeaux region and fell 17% overall in France due to severe cold and frost in 2017. The number of insurance brokers offering parametric protection has also increased in the country, Meteo Protect added.

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