Life-threatening storm surge is already occurring along the coastline from Alabama to the Florida Panhandle, including Pensacola Bay and southern portions of Mobile Bay.
The initiative, which has been evaluated by ESG ratings and research provider Sustainalytics,
is part of Trieste-based Generali’s sustainability strategy.
The Floridian carrier has returned to the cat bond market for a third time, adding wildfire, earthquake and winter storm perils to its latest transaction.
ILS broker-dealers’ forecast cat bond issuance will range from $8bn to $11bn this year, reclaiming ground lost in 2019 when annual volumes plummeted more than 40 percent year on year.