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The bodies said that tapping into the cat bond markets was a possibility. -
The regulations are part of a state effort to expand wildfire coverage.
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The UK Local Government Pension Scheme (LGPS) has around £391bn in AuM.
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The cat bond application process will be streamlined to 10 working days.
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The effort will draw from California’s research and higher education communities.
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The ILS industry offered 11 points of merit that justify cat bonds being eligible for UCITS funds.
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The regulations have been officially published online, with a hearing to be held next month.
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Changes made will make it easier to compare the funds, said Albourne’s Michael Hamer.
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The standard is a ‘step forward’, but cross-company comparisons are difficult.
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The groups highlighted technical hurdles to implementation at a Wednesday hearing.
