The aim of this study is to first give an overview of weather and catastrophe derivatives traded on the financial markets. The second part of this project will provide a detailed description of the models that can be used to assess these financial products and that are currently being discussed in the literature, with a particular focus on those assessment models already in use/place. If feasible, we will analyse potential conclusions of weather derivatives prices for forecasts on climate change and thus climate policy. We will derive the corresponding conclusions.