The World Bank says the Government of Jamaica will receive a full payout of US$150 million under its catastrophe insurance coverage.
In a statement on Friday, the World Bank said this is backed by a catastrophe bond issued in 2024 by the World Bank (International Bank for Reconstruction and Development, or IBRD, AAA/Aaa).
Analysis carried out by third-party calculation agent, AIR Worldwide Corporation, concluded that Hurricane Melissa reached pre-agreed parametric triggers qualifying for a full
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