Google’s corporate development team is getting in on the expectation of increasing extreme weather events with the formation of WeatherBill, start-up that insures farmers against extreme weather conditions that can cripple crop production:
The 30-person company has initially focused on what Mr. Friedberg described as the 168 million-acre corn and soybean market in the United States, selling insurance policies that range from $15 to $75 an acre. He said the weather models let the company pay on claims without requiring proof of a loss and that one out of three farmers typically receives payment on their policies.
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