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Tropical cyclone catastrophe bonds

bjdeming

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Given insurance-related parts of the discussion in the Idalia thread, I just wanted to mention that these exist, AFAIK for hurricanes (and other weather, along with other types of natural disaster) right now but they'll probably go global -- i.e., tropical cyclones, not just hurricanes -- if it works...a big "if," considering the fallout from Ian.

Insurance, like so much else, is terribly complicated today. It's way above my head.

I think the Florida hurricane fund is something different.


More info:
  • Chicago Fed primer
  • Washington Post article from a few days ago (requires email if you're not a subscriber; I'm not)
  • Chile and earthquakes
  • Danish Red Cross and Mt. Merapi bond. It was all right; Merapi just blew a dome. It does get extremely violent, but only once or twice a century, last in 2010. Lay opinion: They're good for decades, at least.
If this belongs in another forum, sorry! Please do go ahead and move it.
 
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