see also...
National Benchmark Study on Corporate Weather Risk Management Practices
CME Group, the world's largest and most diverse derivatives exchange, and Storm Exchange, Inc., a leading weather risk management originator, have published results of a benchmark study which revealed that 82 percent of senior finance and risk managers believe global climate change will require changes to their business models in the years ahead. Yet, when it comes to taking proactive steps to manage their weather risk, 51 percent concede that their companies are not well prepared to cope with the current day-to-day economic risks posed by the weather.
The study, commissioned by CME Group and Storm Exchange, also found that just 42 percent of those surveyed said their companies have attempted to quantify their exposure to the weather, and only 10 percent had used weather hedging strategies (e.g., derivatives, options, futures, etc.) to limit that exposure. However, of those respondents who said their companies have used weather hedging tools, 86 percent said they found them useful.