Joshua Tucker asks why it doesn't exist:
I’ve been thinking about tourists on the East Coast this week, and it made me wonder why people don’t hedge their vacations? I’m not talking about what passes for “flight insurance” (insure your flight for only $32.67, but note the 75,000 instances in which we actually won’t refund the cost of your ticket after you file an insurance claim with a third party!), but actual weather-based futures contracts that could be timed to people’s vacations.
The Dish 