With Melissa a major hurricane and Jamaica now on-watch, it brings the IBRD cat bond and parametric disaster insurance into focus
Hurricane Melissa - latest updates | | | Jamaica cat bond marked down. Hurricane Melissa forecast for major landfall  Jamaica's $150 million IBRD CAR Jamaica 2024 parametric World Bank catastrophe bond has been marked down on secondary pricing sheets and the US National Hurricane Center forecast cone still shows a major hurricane Melissa landfall. The forecast for Hurricane Melissa has not changed a great deal over night, with Jamaica still facing what could be some of the most devastating impacts from a tropical cyclone in history. Hurricane Melissa has intensified further to near 150 mph sustained winds, with higher gusts estimated at around 175 mph. This remains a very dangerous situation for Jamaica. The threat to lives, livelihoods, property and infrastructure is severe. At this stage, there remains a reasonable chance that Jamaica's World Bank catastrophe bond is triggered, depending on central pressure and exact location of the storm passing through the parametric box. Read the full story. Other articles: | | | | | | Please share this with colleagues and friends if you think they would like to receive it.
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