Cat bond, parametrics can provide valuable recovery finance
Hurricane Melissa remains a very major storm | | | Hurricane Melissa nears Jamaica. Cat bond, parametrics can provide valuable recovery finance  As major hurricane Melissa bears down on the Caribbean island nation of Jamaica, the significant intensity of the storm could activate the country's parametric catastrophe bond and insurance protection triggers which, should they pay out, will provide a valuable source of financial liquidity and recovery funding at a particularly challenging time for the country. Hurricane Melissa remains a very major storm and is set to potentially become the strongest ever to hit Jamaica. At the latest forecast update from the National Hurricane Center, Melissa had sustained winds estimated around 175 mph, with gusts well over 200 mph and a minimum central pressure last observed as low as 901mb by hurricane hunter aircraft. While our focus is naturally on the risk transfer arrangements Jamaica has prudently put in place given our audience, with the severity of this situation all thoughts must be with the people of Jamaica, who face a historic storm with impacts that could be devastating for areas that receive the brunt of hurricane Melissa's winds, rains and storm surge. 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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