Hurricane Irene continues to pass through the Bahamas as a dangerous Category 3 hurricane carrying maximum sustained winds of 120mph and higher gusts. The U.S. eastern seaboard is watching nervously as the forecast models continue to show a northeastern landfall of a major and dangerous hurricane Irene. Of course, everybody begins to talk about catastrophe bonds when a hurricane threatens. Bloomberg news have spoken with Paul Schultz, President of Aon Benfield Securities, on the topic of catastrophe bonds and hurricane Irene.
Keep track of hurricane Irene on our 2011 Atlantic Hurricane Season page.