RMS publishes daily weather derivatives data

Risk Management Solutions (RMS), a California-based provider of software for the management of natural hazard risks, has begun publishing daily weather market price data on the internet. Weather market indexes based on the number of heating degree-days – a method of comparing daily temperature with a seasonal average – are now available for Chicago, New York and London. The numbers are intended to represent the strike price on weather derivatives contracts, which provide hedges against unsea