The concept and applications of weather derivatives and weather insurance are introduced. Proper analysis of these financial instruments requires both statistical knowledge and thorough understanding of the physical weather and climate process. A simple but practical analysis approach is developed based on historical data and seasonal forecast. It is then applied to a single and a portfolio of weather derivative contracts. Business implications of the results from the analysis are discussed.
Bulletin of the American Meteorological Society – American Meteorological Society
Published: Sep 19, 2000
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