It’s been a bad year for insurance companies as they could face as much as $10 billion from weather-related losses this year alone from severe tornadoes, hurricanes and floods. But what does this mean for the catastrophe bond market? Louise Story, Wall Street and finance reporter for The New York Times explains.
Wednesday on The Takeaway, Wall Street and Finance reporter for The New York Times, Louise Story mentioned the existence of something called a “cat bond.” How do catastrophe bonds work? Essentially, these bonds are packages of insurance risks and it’s a complex market, says Louise Story. As weather events get worse and more risky, the […]