Philippines targets indemnity cover, over cat bonds, for infrastructure: Report

The government of the Philippines is reported to be back seeking indemnity insurance protection for critical infrastructure and this is said to be being pursued instead of a renewal of its World Bank catastrophe bond, according to Bloomberg.

As a reminder, the Philippines government had a World Bank issued IBRD CAR 123-124 catastrophe bond that provided both earthquake and typhoon wind and rainfall protection on a parametric basis.

The government benefited from a $52.5 million recovery from the originally $150 million of tropical cyclone exposed Class B cat bond notes with this deal, after the impacts of super typhoon Rai (locally known as Odette) in late 2021.

FULL ORIGINAL PUBLICATION HERE

This section is reserved for prospective online registration/payment option

×