VentureBeat - Latest Comments in With revenue and new services, WeatherBill predicts bright future in weather insurance

Re: With revenue and new services, WeatherBill predicts bright future in weather insurance

weather_tradedr — Wed, 01 Apr 2009 07:55:29 -0000

Keep in mind that this is not weather insurance. WeatherBill offers weather DERIVATIVES. A weather derivative transaction can only take place between two eligilbe parties, primarily defined as haveing at least $1,000,000 in net worth or $10,000,000 in assets. WeatherBill actually runs the transaction through a third party in Bermuda. Derivatives are virtually unregulated, while insurance is highly regulated.

Unless you know what you are doing, it can be a risky venture.

Re: With revenue and new services, WeatherBill predicts bright future in weather insurance

Shirley Savage — Mon, 30 Mar 2009 21:22:31 -0000

Re: weather contracts for 2008 in the Weather Risk Management Association/PricewaterhouseCoopers Industry Survey, more winter contracts were done than summer contracts.

Re: With revenue and new services, WeatherBill predicts bright future in weather insurance

Eric Rosser Eldon — Mon, 30 Mar 2009 20:20:18 -0000

Thanks for asking about that. In this case I mean revenue, not any form of profit.

Re: With revenue and new services, WeatherBill predicts bright future in weather insurance

Dan — Mon, 30 Mar 2009 20:00:59 -0000

Interesting business. One general comment/critique of this and other posts I see on this site: please try to better define "making x dollars". Does that mean in revenue, gross profit, operating profit, or some other unit such as in this case potentially the value of the insurance contracts. I know private companies are cagey about these numbers and there is no way to verify them, but it would be nice to better understand at least what they are claiming. I don't mean to be too critical, overall a very informative post about a company I hadn't heard from in a while.