Rain Premium

Posted by Jennifer Dungavell
Date August 4, 2015 | Topic: Department News
A mistimed rainstorm can ruin any hope of a profitable harvestWestem Science News - Juy 16, 2015

Weather, being quite a whole-hearted practitioner of the adage, "the only constant is change" keeps us guessing with altered seasons, varying wind patterns and mood-swings in temperature. For a farmer who is growing corn, an unpredictable downpour of rain or an unforeseen and extreme change in temperature may completely annihilate that year's crop haul. Dr. Rogemar Mamon, a Mathematics & Statistics professor at Western University's department of Statistics and Actuarial Sciences, observes that, "what the farmer needs is crop insurance linked to weather-related risk to help tide over these unavoidable and unpredictable circumstances."  read more....

This article comes from Department of Statistical and Actuarial Sciences
http://www.stats.uwo.ca
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http://www.stats.uwo.ca/modules/news/article.php?storyid=40