Why hurricane-stricken Jamaica can't tap into $150 million of natural-disaster insurance
The aftermath of hurricane Beryl.
RICARDO MAKYN/Getty Images
- Jamaica can't tap into catastrophe-bond funds despite Hurricane Beryl's devastation.
- That's because the air pressure level required for a payout wasn't exceeded.
- Bondholders therefore didn't have to pay out.
Although a category-five hurricane laid waste to Jamaica, the nation won't be able to access funds from a bond meant to cover natural disasters, Bloomberg reported.
That's despite the...
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