Hurricane Melissa, the most powerful Atlantic hurricane of the year, made landfall this week as a Category 5 storm in Jamaica. The strength of the storm means it will likely trigger a full payout from a catastrophe bond designed to provide funds to the island in the event of catastrophic weather events.The $150 million catastrophe bond, structured by Aon, is intended to help the island's people rebuild after natural disasters by providing Jamaica parametric coverage against losses from named storms. The pol ...

So Lee, what are we here to talk about today. Extreme weather is forcing insurers to make big changes to their business model and get more creative. So what impact might that have.Insurers have had to pay out more than hundred billion dollar a year in natural catastrophe losses every year this decade. This year has already seen heavy insured losses with January's wildfires in LA costing the industry 30 to40 billion. LA is just one of many destinations where residents are moving into harm's way.In the US, pe ...

Market Trends - Parametric insurance is gaining popularity among large corporations [1] - The parametric insurance market is estimated to almost double to $34 billion by 2033 [1]