Weather risk management by companies such as Delphi Weather Analytics. The weather risk market makes it possible to manage the financial impact of weather through risk transfer instruments based on a defined weather element, such as temperature, rain, snow, wind, etc. Weather risk management is a way for organizations to limit their financial exposure to disruptive weather events. By making a payment (a "premium") to a separate company that will assume the financial weather risk for them, an organization essentially is buying a type of insurance - the company assuming the risk will pay the buyer a pre-set amount of money which will
Weather is the application of science and technology to predict the state of the atmosphere for a future time and a given location. Human beings have attempted to predict the weather informally for millennia, and formally since at least the nineteenth century. Weather forecasts are made by collecting quantitative data about the current state of the atmosphere and using scientific understanding of atmospheric processes to project how the atmosphere will evolve. Once an all-human endeavor based mainly upon changes in barometric pressure, current weather conditions, and sky condition, forecast models are now used to determine future conditions. On the other hand,