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 window than 72 hours can be defined as weather-limited operations. These operations can be planned independently of statistical data and based only on weather forecasts. For weather-limited operations, critical factors such as forces, movements and acceleration shall be calculated in a rather worse weather condition (design criterion) than the weather in which it is planned to perform the operation (operational criterion). This is due to the unreliability of weather forecasts. The longer the planned operation lasts, the greater the difference between the operational criterion and the design criterion. The relationship between the operational criterion and the design criterion is defined as