With Melissa expected to intensify into a major hurricane and Jamaica now on-watch, it brings the IBRD cat bond and parametric disaster insurance into focus
Jamaica storm Melissa: Cat bonds and parametrics | | | Jamaica hurricane Melissa watch brings cat bond and parametric structures into focus  The government of Jamaica has raised a hurricane watch for what is currently tropical storm Melissa and with the National Hurricane Center warning that "significant strengthening is expected" and some forecast models showing a particularly intense storm nearing the island, it brings the country's World Bank catastrophe bond and parametric insurance into focus. It's important to state that there remains some uncertainty in the forecast model path and intensity projections for tropical storm Melissa still, but increasing numbers point to a dangerous situation for Jamaica. Hurricane forecast models continue to show an intense Category 3 or 4 hurricane Melissa tracking over Jamaica on Sunday and Monday, with a good number of models and runs currently showing a scenario that would almost certainly result in the IBRD cat bond being triggered in some way. 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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