Newark, Calif. — A network of hurricane-hardened weather stations to measure wind speeds for a new securities index has been installed in preparation for the 2008 hurricane season, reports Risk Management Solutions (RMS), and WeatherFlow Inc., a Scotts Valley, Calif., provider of weather data. The stations will provide wind speed data for the WindX parametric index, which supports the transfer and trading of catastrophic hurricane risk in the capital markets. WindX is a joint effort between WeatherFlow and RMS, a Newark, Calif., catastrophe risk management company.
"More than 50 stations specifically designed to withstand and accurately record winds up to and exceeding 140 miles an hour have been planted across Florida, with a further eight installed in Houston," says Buck Lyons, CEO of WeatherFlow, which owns and operates a network of more than 350 proprietary weather stations.
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