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# July 14, 2016: China Wants to Make More Weather, Cat Bonds as Foreign Aid and Rome's New Volcanic Threat
- URL: https://www.riskmarketnews.com/july-14-2016-china-wants-make-weather-cat-bonds-foreign-aid-romes-new-volcanic-threat/
- Published: 2016-07-14T06:44:51.000Z
- Updated: 2016-07-14T06:44:51.000Z
- Author: Chris Westfall

## Risk Science: What You Need to Read Today

### [China Sets Aside $30 Million for Weather Modification Program](http://www.reuters.com/article/us-china-weather-idUSKCN0ZU0CE?ref=riskmarketnews.com)

#### [Reuters](http://www.reuters.com/article/us-china-weather-idUSKCN0ZU0CE?ref=riskmarketnews.com)

China currently uses weather modification technology to induce rain during droughts, to reduce hail, and to clear the skies ahead of prestigious international events.

### [In Australia, Flooding Is Already on the Rise](https://www.hakaimagazine.com/article-short/australia-flooding-already-rise?ref=riskmarketnews.com)

#### [Hakai](https://www.hakaimagazine.com/article-short/australia-flooding-already-rise?ref=riskmarketnews.com)

A new analysis shows flooding in southeastern Australia has nearly doubled since 1860.

### [Could a Volcano Be Waking Up on the Outskirts of Rome?](http://www.wired.com/2016/07/volcano-waking-outskirts-rome/?ref=riskmarketnews.com)

#### [Wired](http://www.wired.com/2016/07/volcano-waking-outskirts-rome/?ref=riskmarketnews.com)

Colli Albani (also known as the Alban Hills) may be ready to awaken.

### [Small Groups of Satellites Are More Accurate Because of Teamwork: Study](http://gizmodo.com/small-groups-of-satellites-are-more-accurate-because-of-1783632952?ref=riskmarketnews.com)

#### [Gizmodo](http://gizmodo.com/small-groups-of-satellites-are-more-accurate-because-of-1783632952?ref=riskmarketnews.com)

A cluster of three to eight small, “shoebox-sized satellites” are more accurate than a traditional, large satellite.

## Risk Business: What You Need to Read Today

### [Farmers Insurance CIO Departs for Two Sigma](http://www.ai-cio.com/channel/NEWSMAKERS/Farmers-Insurance-CIO-Departs-for-Two-Sigma/?ref=riskmarketnews.com)

#### [Chief Investment Officer](http://www.ai-cio.com/channel/NEWSMAKERS/Farmers-Insurance-CIO-Departs-for-Two-Sigma/?ref=riskmarketnews.com)

Karyn Williams has left the insurer for a hedge fund after just under a year at the helm.

### [LMG Launches Discussion on ILS Solution for Catastrophes in Under Insured Markets](http://www.londonmarketgroup.co.uk/lmg-launches-discussion-on-ils-solution-for-catastrophes-in-under-insured-markets?ref=riskmarketnews.com)

#### [London Market Group](http://www.londonmarketgroup.co.uk/lmg-launches-discussion-on-ils-solution-for-catastrophes-in-under-insured-markets?ref=riskmarketnews.com)

The industry-backed consortium has proposed the creation of a Foreign Aid catastrophe Bond (FAB).

### [Allianz Sees Cyber Premiums as Fire Insurance of 21st Century](http://www.reuters.com/article/us-germany-cyber-insurance-idUSKCN0ZT238?ref=riskmarketnews.com)

#### [Reuters](http://www.reuters.com/article/us-germany-cyber-insurance-idUSKCN0ZT238?ref=riskmarketnews.com)

The growing threat of hacking and a duty to protect data more stringently will accelerate demand for cyber insurance in Europe.

### [XL Says Catastrophes Cost $240 Million, Led by Canada Fires](http://www.bloomberg.com/news/articles/2016-07-13/xl-says-catastrophes-cost-insurer-240-million-in-second-quarter?ref=riskmarketnews.com)

#### [Bloomberg](http://www.bloomberg.com/news/articles/2016-07-13/xl-says-catastrophes-cost-insurer-240-million-in-second-quarter?ref=riskmarketnews.com)

Flooding in Europe and earthquakes in Japan and Ecuador also contributed to the losses.