The Insurance Times is reporting that from tomorrow (11th July) the Chicago Climate Futures Exchange will be listing IFEX (Insurance Futures Exchange) Florida and U.S. Gulf Coast tropical wind event linked futures.
The new first event futures cover insured losses in Florida and the Gulf Coast states Mississipi, Alabama, Louisiana and Texas and will feature the same trigger levels as the other IFEX contracts ($10bn, $20bn, $30bn, $40bn and $50bn based on calculations of insured losses by PCS).
Given the timing, with the Atlantic storm season underway, we could see great interest in these new contracts.
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