New online exchanges are allowing small businesses to hedge against earthquakes and catastrophes the same way big business has done for years. Companies such as Weatherbill.com and Stormexchange.com buy large contracts and sell them in smaller chucks at prices that are affordable to small business.
Priceline.com recently a deal where the company will refund money to buyers of its vacation packages if it rains more than a half an inch a day during half or more of the holiday. Priceline can afford to do so, by using financial products that hedge against extremes in heat, More»

Labels: online services, priceline.com, weatherbill.com