Looking out at my Austin icicles today, it struck me that this two-and-a-half-day ice storm must have had a relatively significant negative economic impact on the Austin economy. So I was curious if there's anything a business can do to hedge against such weather.
Somebody at CNBC apparently was thinking the same when they ran a feature on WeatherBill.com
WeatherBill bills itself as a company that sells "weather contracts" to eligible buyers. WeatherBill contracts "can be used to protect [your] business from adverse weather conditions" by "paying you when those adverse conditions occur."
It's kind of like betting on the weather. Apparently, rolling the dice on weathers contracts is legal in these United States, unlike Internet gambling, which is not legal.
Croupier, I'll take $50 at 4-1 odds on that tornado missing the trailer park down the street!
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Todd "Turbo" Watson -- IBM Corporation
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