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# June 22, 2016: How Bad is U.S. Weather Modeling, Florida Swaps Wind Risk for Rain and Brexit is Just the Beginning of Political Risk 
- URL: https://www.riskmarketnews.com/june-22-2016-bad-u-s-weather-modeling-florida-swaps-wind-risk-rain-brexit-just-beginning-political-risk/
- Published: 2016-06-22T07:13:02.000Z
- Updated: 2016-06-22T07:13:02.000Z
- Author: Chris Westfall

## Risk Science: What You Need to Read Today

### [The US Weather Model is Now the Fourth Best in the World](http://arstechnica.com/science/2016/06/the-us-weather-model-is-now-the-fourth-best-in-the-world/?ref=riskmarketnews.com)

#### [Ars Technica ](http://arstechnica.com/science/2016/06/the-us-weather-model-is-now-the-fourth-best-in-the-world/?ref=riskmarketnews.com)

When the US Air Force abandons your forecasts for another country, that’s pretty bad.

### [Bangladesh River Eats Up Land and Homes, Trapping Poor Villagers](http://www.reuters.com/article/us-bangladesh-climatechange-erosion-disp-idUSKCN0Z80JO?ref=riskmarketnews.com)

#### [Reuters](http://www.reuters.com/article/us-bangladesh-climatechange-erosion-disp-idUSKCN0Z80JO?ref=riskmarketnews.com)

Riverbank erosion is a common problem during the monsoon, but scientists say climate change is making the phenomenon worse by contributing to higher levels of flooding and siltation.

### [Research on San Andreas Fault Gives Hope that Earthquake Prediction May be Possible](http://www.wcpo.com/news/national/research-on-san-andreas-fault-gives-hope-that-earthquake-prediction-may-be-possible?ref=riskmarketnews.com)

#### [Scripps News](http://www.wcpo.com/news/national/research-on-san-andreas-fault-gives-hope-that-earthquake-prediction-may-be-possible?ref=riskmarketnews.com)

GPS mapping of the fault line may give researchers a tip as to when the fault is ready to rupture.

### [Brexit Won’t Be the End of Political Risk for Investors](https://next.ft.com/content/655d65ca-37b6-11e6-9a05-82a9b15a8ee7?ref=riskmarketnews.com)

#### [FT (sub may be required)](https://next.ft.com/content/655d65ca-37b6-11e6-9a05-82a9b15a8ee7?ref=riskmarketnews.com)

Britain’s vote on EU membership isn’t the only source of political risk this year.

## Risk Business: What You Need to Read Today

### [Hedge Funds Still Can’t Figure Out a Way to Avoid a $25 Billion Tax Bill](http://www.bloomberg.com/news/articles/2016-06-21/for-top-u-s-hedge-funds-a-painful-date-with-the-tax-man-looms?ref=riskmarketnews.com)

#### [Bloomberg](http://www.bloomberg.com/news/articles/2016-06-21/for-top-u-s-hedge-funds-a-painful-date-with-the-tax-man-looms?ref=riskmarketnews.com)

The deadline they face is Dec. 31, 2017\. That’s when a loophole closes, and hedge-fund managers will have to pay taxes on performance fees parked offshore.

### [Citizens Pursues Rate Hike Citing Water Claims](http://www.miamiherald.com/news/business/article85122867.html?ref=riskmarketnews.com)

#### [Miami Herald](http://www.miamiherald.com/news/business/article85122867.html?ref=riskmarketnews.com)

Citizens and other insurers contend that premiums are being driven up by an increase in household water-damage claims and a process known as “assignment of benefits.”

### [Insurer Neon Set to Shine in Bermuda](http://www.royalgazette.com/re-insurance/article/20160621/insurer-neon-set-to-shine-in-bermuda?ref=riskmarketnews.com)

#### [Royal Gazette](http://www.royalgazette.com/re-insurance/article/20160621/insurer-neon-set-to-shine-in-bermuda?ref=riskmarketnews.com)

Lloyd’s of London-based insurer Neon has opened a new office in Bermuda and the firm aims to expand its on-island two-strong team as it targets the US market.

### [Grandpoint Bank Offers Cyber Insurance Against Wire-Transfer Fraud](http://www.reuters.com/article/us-cyber-insurance-banks-idUSKCN0Z7322?ref=riskmarketnews.com)

#### [Reuters](http://www.reuters.com/article/us-cyber-insurance-banks-idUSKCN0Z7322?ref=riskmarketnews.com)

Grandpoint said the policy, which is underwritten by Hiscox, costs $30 to $70 per month for up to $1 million in coverage.