WeatherBill FAQ
General Questions
What are WeatherBill contracts?
Why would I want to buy a WeatherBill contract?
Are WeatherBill contracts the same as weather insurance?
Who are eligible buyers of WeatherBill contracts? How do I know if I'm eligible?
Why do you need my Social Security number?
Is my personal information safe with WeatherBill?
Is this gambling?
I have more questions. How can I contact you?
What are WeatherBill contracts?
WeatherBill contracts are financial instruments that can be used by business managers and owners to protect against adverse weather. Adverse weather can be as simple as a rainy day or as destructive as a 6-month drought. If you know what weather conditions may impact your business, you can create a Contract that will pay you when the conditions occur, thus "hedging" your risk. Hedging your weather risk helps decrease the volatility of your business's profits. There is no minimum contract amount - you can buy protection for as little as $1.
Why would I want to buy a WeatherBill contract?
Each year, businesses around the world are financially affected by the weather. For example, in the United States $2-3 trillion of the GDP is impacted. Globally, climate change could cost between five and 20 percent of the annual global gross domestic product. Heat waves, hurricanes - even abnormally warm winters or wet springs can impact the operations of all types of business. Ski resorts suffer during a warm winter and amusement parks lose visitors on rainy days. Sound planning means putting together a solid business interruption strategy. Weather Contracts can help guard against some of the unpredictabilities of weather. Use the WeatherBill Tools to learn more about how your business may impacted by the weather.
Are WeatherBill contracts the same as weather insurance?
No. WeatherBill contracts are financial instruments. Weather Contracts do not require an insurance agent, a claims process, or a proof of loss to qualify for payment. Weather Contracts require payment based solely on weather measurements. WeatherBill automates this "settlement" and you will get a check in the mail within a few business days after a Contract has been settled.
Who are eligible buyers of WeatherBill contracts? How do I know if I'm eligible?
Buyers of WeatherBill contracts include retail store owners, farmers, traders, and state governments. In order to create an account, you must meet the criteria of an "Eligible Contract Participant", as defined here.
Why do you need my Social Security number?
WeatherBill is required by US federal law to collect the Social Security Number (SSN) / Taxpayer Identification Number (TIN) of every customer. This is done to maintain an exact record that identifies all parties that buy our Weather Contracts, which are financial instruments. These identifiers are transmitted and stored securely, and will not be used or disclosed by us for any purpose other than as required by law.
Is my personal information safe with WeatherBill?
Yes. WeatherBill takes privacy very seriously. We keep all information encrypted and secure, and will never share or sell it to anyone except as required by law.
Is this gambling?
This is not gambling. If you are an eligible buyer, you are entering into a legal and binding Contract with WeatherBill when you purchase a Weather Contract. WeatherBill contracts are commodity contracts intended to be used as risk-management instruments that can help buyers manage financial risk tied to the weather. They can be traded over-the-counter (i.e. not on a public exchange or marketplace), so long as both parties entering into the trade are eligible to trade. To find out if you're eligible, please read the definition of "Eligible Contract Participants" here, or try to register for a WeatherBill account .
I have more questions. How can I contact you?
If you can't find the answers you need here, they may be in the General Information, WeatherBill Tools, or Accounts and Payout sections. If you can't find your answer there, send us an email or give us a call. From the US, call toll-free: 888-WB4-RISK (888-924-7475). If you are calling from outside the US, call +001-415-986-4453.
Why would I want to buy a WeatherBill contract?
Are WeatherBill contracts the same as weather insurance?
Who are eligible buyers of WeatherBill contracts? How do I know if I'm eligible?
Why do you need my Social Security number?
Is my personal information safe with WeatherBill?
Is this gambling?
I have more questions. How can I contact you?
What are WeatherBill contracts?
WeatherBill contracts are financial instruments that can be used by business managers and owners to protect against adverse weather. Adverse weather can be as simple as a rainy day or as destructive as a 6-month drought. If you know what weather conditions may impact your business, you can create a Contract that will pay you when the conditions occur, thus "hedging" your risk. Hedging your weather risk helps decrease the volatility of your business's profits. There is no minimum contract amount - you can buy protection for as little as $1.
Why would I want to buy a WeatherBill contract?
Each year, businesses around the world are financially affected by the weather. For example, in the United States $2-3 trillion of the GDP is impacted. Globally, climate change could cost between five and 20 percent of the annual global gross domestic product. Heat waves, hurricanes - even abnormally warm winters or wet springs can impact the operations of all types of business. Ski resorts suffer during a warm winter and amusement parks lose visitors on rainy days. Sound planning means putting together a solid business interruption strategy. Weather Contracts can help guard against some of the unpredictabilities of weather. Use the WeatherBill Tools to learn more about how your business may impacted by the weather.
Are WeatherBill contracts the same as weather insurance?
No. WeatherBill contracts are financial instruments. Weather Contracts do not require an insurance agent, a claims process, or a proof of loss to qualify for payment. Weather Contracts require payment based solely on weather measurements. WeatherBill automates this "settlement" and you will get a check in the mail within a few business days after a Contract has been settled.
Who are eligible buyers of WeatherBill contracts? How do I know if I'm eligible?
Buyers of WeatherBill contracts include retail store owners, farmers, traders, and state governments. In order to create an account, you must meet the criteria of an "Eligible Contract Participant", as defined here.
Why do you need my Social Security number?
WeatherBill is required by US federal law to collect the Social Security Number (SSN) / Taxpayer Identification Number (TIN) of every customer. This is done to maintain an exact record that identifies all parties that buy our Weather Contracts, which are financial instruments. These identifiers are transmitted and stored securely, and will not be used or disclosed by us for any purpose other than as required by law.
Is my personal information safe with WeatherBill?
Yes. WeatherBill takes privacy very seriously. We keep all information encrypted and secure, and will never share or sell it to anyone except as required by law.
Is this gambling?
This is not gambling. If you are an eligible buyer, you are entering into a legal and binding Contract with WeatherBill when you purchase a Weather Contract. WeatherBill contracts are commodity contracts intended to be used as risk-management instruments that can help buyers manage financial risk tied to the weather. They can be traded over-the-counter (i.e. not on a public exchange or marketplace), so long as both parties entering into the trade are eligible to trade. To find out if you're eligible, please read the definition of "Eligible Contract Participants" here, or try to register for a WeatherBill account .
I have more questions. How can I contact you?
If you can't find the answers you need here, they may be in the General Information, WeatherBill Tools, or Accounts and Payout sections. If you can't find your answer there, send us an email or give us a call. From the US, call toll-free: 888-WB4-RISK (888-924-7475). If you are calling from outside the US, call +001-415-986-4453.