💨 Abstract

Hurricane Milton caused widespread flooding and deadly tornadoes in Florida, leading to a drop in catastrophe bonds issued by the U.S. National Flood Insurance Program (NFIP) on Friday. These bonds, which are a form of insurance-linked security, offer high returns but keep the principal if a specified event occurs. Seven NFIP-issued bonds totaling $1.3

Courtesy: theprint.in

Summarized by Einstein Beta 🤖