Cat Bonds
Cat bonds are hybrid insurance-debt instruments that turn disaster insurance into tradable securities.
- These bonds transfer risk from governments to global investors, tapping into deeper financial markets than traditional reinsurers.
- Quicker payouts and lower counter-party risk make cat bonds attractive for disaster relief and reconstruction.
- Sovereign nations sponsor cat bonds and pay premiums; the insured sum becomes the bond’s principal.
- Intermediaries like the World Bank, ADB, or reinsurers issue these bonds to minimize counter-party ....
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