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Philippines has cat bond for volcano-linked quake damage


Carlos Dominguez III, finance secretary of the Philippines, said that the country has a catastrophe bond in place that can be triggered in case volcano Taal's eruption causes a destructive earthquake, Inquirer reported. The Philippine Institute of Volcanology and Seismology has reported 144 low-magnitude tremors around the volcano in the province of Batangas after the volcano erupted on Jan. 12.

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