US disaster relief agency issues another flood bond

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US disaster relief agency issues another flood bond

Jasper Cox
April 23, 2019 12:00 PM
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Areas of Kinston, N.C., remained under water in 2018, as a result of Hurricane Florence. More than two weeks after Florence came ashore along the coast of North Carolina, the death toll from the storm continues to rise. (Photo by Scott Sharpe/Raleigh News&Observer/TNS/Sipa USA) | TNS/SIPA USA/PA Images

The US Federal Emergency Management Agency (FEMA) has returned to the catastrophe bond market to manage risk in its flood insurance programme. The agency is resorting to the insurance-linked security market as it looks to change its financial model.

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