California bill opens way to state cat bonds

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California bill opens way to state cat bonds

Jasper Cox
February 18, 2019 04:00 PM
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November 8, 2018 - Paradise, California, U.S. - The Camp Fire raged through the town of Paradise in Butte County Thursday. Dozens of businesses and home were destroyed as the fire moved faster than firefighters could react to it. (Credit Image: © Neal Waters/ZUMA Wire/ZUMAPRESS.com) | Neal Waters/Zuma Press/PA Images

Politicians in California have put forward a bill allowing the state to use insurance-linked securities (ILS) to protect itself against natural disasters.

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