A first of its kind Israel earthquake parametric reinsurance transaction has been brought to market successfully by reinsurance firm Munich Re and capital markets reinsurance broker arm Aon Benfield Securities for Israeli insurer I.D.I.
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Back in January we wrote that the government in Israel were looking seriously at catastrophe bonds as a mechanism to prepare their finances for the possible economic shock of a major earthquake. A study undertaken by their National Economic Council concluded that Israel’s government finances were not prepared for a 1 in 250 year earthquake […]
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Israeli government finances are not prepared for the potential shock of a huge earthquake concluded a piece of work by their National Economic Council. The business sector has insurance in place but residential insurance is not so well prepared and the government finances themselves are said to be less capable of withstanding the shock of […]
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