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The forecast comes following the earliest Category 5 storm on record. -
The parametric trigger on the World Bank deal specifies storm pressure of 955mb or lower but its initial reported landfall was at 975mb.
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Hurricane Beryl is expected to strengthen again after hitting the Yucatan Peninsula.
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The parametric structure would have paid out at slightly lower storm pressure.
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Benefits of ILS smart contracts include transparency and tradeability.
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The storm destroyed housing in St Vincent and the Grenadines and Grenada.
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The storm is predicted to hit the Caymans tonight or early Thursday.
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Curtis Dickinson will help to oversee the strategy and vision of Hiscox Re & ILS.
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Recent modelling predicts a strong probability of direct landfall in Jamaica.
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The broker is entering the Japanese market with a focus on ILS.
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Grenada and St Vincent were spared the full brunt of the storm.
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