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catastrophe bond

   Also found in: Wikipedia 0.03 sec.
catastrophe bond
A debt security with a payoff tied to the relative severity of a natural disaster such as a hurricane or earthquake. Bondholders are paid with insurance premiums but may have to accept reduced principal repayment in the event the specified disaster occurs during the life of the bond.


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In a report, The Catastrophe Bond Market at Year-End 2005: Ripple Effects from Record Storms, Guy Carpenter reported a total of $1.
More risk, more reward: the catastrophe bond business is booming this ... by Green, Meg / Best's Review
Other areas of expertise include site-specific seismic engineering analysis, catastrophe bonds and property replacement cost valuation.
Karen Clark to Step Down as President and CEO of AIR Worldwide by Business Wire
These warranties are similar to a catastrophe bond with an industry-indexed trigger, except the transaction is between the insurer and the issuer--often a hedge fund--instead of between the insurer and a host of investors who can buy the cat bonds.
Hungry hedge funds: known for employing unusual and creative types of ... by Green, Meg / Best's Review
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