Weather risk management system

CAFC
  • US 8,924,242 B2
  • Filed: 09/18/2013
  • Issued: 12/30/2014
  • Est. Priority Date: 11/02/2009
  • Status: Expired due to Fees
First Claim
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1. A computer-implemented method implemented on a platform for the risk management and cost containment of weather-related services, the method comprising:

  • connecting a weather risk management system implemented into a computer in data communication to a computer network for the transfer of input information from a weather database and a weather option database to the weather risk management system, wherein the weather risk management system includes a unitary event module for calculating at least a cost at a site in an area, a global module for calculating at least a base price for services at one or more of a plurality of sites taken from the unitary event module, and a hedge assignment module for calculating a tick price and an associated premium for the selection of an option for managing the risk and containing the cost of weather-related services;

    entering into the weather risk management system input information from the weather database and the weather option database;

    calculating by the unitary event module from the entered input information the cost at the site in the area;

    calculating the base price for services in one or more of the plurality of sites from the unitary event module; and

    calculating the tick price and the associated premium for the selection of the option for managing the risk and containing the cost by the hedge assignment module.

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