Parametric cat bond triggers may face NOAA disaster database wind-down uncertainty: AM Best – Go Health Pro
The decommissioning of NOAA’s billion-dollar weather disaster database could force a rethink of parametric triggers used in catastrophe bonds and hamper insurers’ ability to model and price secondary perils, according to global ratings agency AM Best.The National Oceanic and Atmospheric Administration (NOAA) recently announced that its billion-dollar weather and climate disasters database, which tracks U.S. … Read more