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
National Weather Service need to take or advising them to be vigilant of any warnings or weather statements that may be issued by their local National Weather Service office. A statement may be issued as a follow-up message to a warning, watch, or emergency, which may update, extend, or cancel the previously issued product or be used as a notification of significant weather for which no type of alert is currently in effect for a given location or is expected to be in effect. In situations where a forecaster indicates a significant threat of extremely severe and life-threatening weather with an ongoing local