A New Financial Strategy: Jamaica's Innovative Use of Catastrophe Bonds to Tackle Hurricane Threats

In an era where climate change continues to exacerbate natural disasters, Caribbean nations are at the forefront of seeking innovative financial tools to fortify their economies against the impending threats of hurricanes. Jamaica, in particular, has taken a significant stride in this arena by launching a new disaster insurance scheme using catastrophe bonds (cat bonds). This strategic financial maneuver aims to yield rapid funding that can significantly aid recovery efforts in the wake of a hurricane.

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