Super typhoon pummels Philippines; could trigger cat bond

Typhoon Noru wreaked havoc in the Philippines, prompting authorities to suspend work, school and retail operations on Sept. 26, after it made landfall in the country’s main Luzon island, BNN Bloomberg reported. The super typhoon is expected to affect nearly 1.5 million hectares of farmland, and could trigger the country’s catastrophe bonds, according to Artemis, which monitors weather risk and catastrophe bond markets