Florence damage projected to bypass cat bonds

Tropical storm Florence — downgraded from hurricane status — has flooded North Carolina. It is unlikely to hit catastrophe bond holders very hard, although one issue from the US’s National Flood Insurance Programe (NFIP) is under scrutiny.

  • By Jasper Cox
  • 18 Sep 2018

“Florence is an elongated low pressure area as it continues to produce heavy rain over northern portions of the mid-Atlantic states into southern New England,” said the National Hurricane Center on Tuesday morning.

Thirty-seven people are reported to have died due to the storm.

Florence was originally designated ...

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