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What is Understanding Weather Derivatives about?

This document discusses weather derivatives and provides an example of how a municipality could use them. Weather derivatives are financial products that allow companies to hedge against risks from weather conditions. They work similarly to other derivatives, with the payout dependent on an underlying weather metric rather than an asset price. The document gives an example of a municipality that spends $3 million annually on snow removal buying a snowfall call option. This limits their costs to $3.5 million

Author

kumar vivek

Language

EN