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International

Typhoon may not trigger payouts under cat bond

December 13, 2019 Reprints

Typhoon Kammuri, which made a landfall in the Philippines as a Category 4 equivalent storm on Dec. 02, may not trigger payouts from the recently issued World Bank-backed $225 million catastrophe bond, Artemis reported. The cat bond comprises cyclone insurance cover worth $150 million; however, typhoon Kammuri’s modelled loss impact may not make it eligible for payouts from the cat bond, which is structured to respond to Category 5 equivalent typhoon impacts.

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Typhoon may not trigger payouts under cat bond

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