This course is intended for junior/senior undergraduate and junior graduate students who are interested in learning about weather risk and its management in real life. The goal of the first part of the class is to provide students detailed knowledge of physical processes that lead to hazardous weather at various temporal and spatial scales. The second part of the class will introduce to the students the philosophy, concept and methodology of catastrophe modeling of natural hazards and discuss the application of catastrophe models in the insurance/reinsurance industry and in the general financial market.