More and more attention of the international community is given to the social and economic impact of climate change，and the research and market application of meteorological disaster risk management tools. From the perspective of market，it has great potential to establishing a nationwide effective feasible trading market of meteorological disaster risk. According to the research and analysing the risk transfer products such as weather derivatives，weather index insurance product，catastrophe securitization in the European and American countries，this paper introduces the development of the market of meteorological disaster risk in the European and American countries，and the process and mechanism of how the weather derivatives and weather index insurance product to avoiding meteorological disaster risk. Since 2007，China Meteorological Administration in collaboration with China Insurance Supervision Commission，carried out the study of commercial weather index insurance. Finally，this paper puts forward the multi-level model and prospect of meteorological disaster risk of the market，as well as the potential risk management responsibilities and suggestions of policy regulations in the meteorological，insurance and securities regulatory authority.