A catastrophe waiting to happen?

cat bonds


By the end of September, Congress was contemplating additional funding—a possible $12.2 billion—to help the southeastern states recover from a severe start to the hurricane season. Hurricanes Charley, Frances, Ivan and Jeanne wrought an untold amount of destruction on Florida, initiating the largest recovery effort ever by the Federal Emergency Management Agency. The intensity of the weather pattern was something of an anomaly, this being the first time four hurricanes have hit the same stat

To continue reading...