@Sjalabais
"Criteria not met" is just the baseline weaseling-out-strategy of every insurance. Remember that Jamaica already spent money to be left out in the rain. The report should have mentioned numbers.
@SergeyLeschinsky
OMG, these pearls on Jamaica minister :face-turquoise-covering-eyes:
@PeterAqualung
The cat bond payout is not related to damages but to a cleverly drawn line in the sand. That seems worse than insurance.
@patrick247two
The house always wins.
@djayjp
Poor people in poor countries paying rich people due to the problems caused by said rich people (their CO2 emissions).... 😞
@AcctistaZ
It’s not an ‘unusual’ bet. It’s standard bet for 10 years
@Ray-h4x7g
Anyone in a repetitive disaster area stays there at their own risk. If my house kept getting blown down, I'd move. Simple
@loudboomboom
I don’t understand why the country wouldn’t make payments directly into a relief fund and pay on the fixed debts if they occur? The risk isn’t working out for the country.
@vbook360
It's interesting to learn about cat bonds and how they aim to provide financial relief after major events. However, with climate change increasin the frequency and intensity of these disasters, is this really a viable longterm solution? The show even mentions that these bonds aren't payin out as much as hoped. Should we be focusing more on preventative measures and resilient infrastructure?
@reidr7288
Not dystopian at all
@htopherollem649
sounded, to me, like just another way for Wallstreet to extract wealth from poor nations. before the event by selling a safety net product, and then after the event by denying claims for not being catastrophic enough. that's the name of the game for insurance claim denial, just slightly altered. for those (and catastrophic hurricanes) there would be one adjuster for the wind damage (denying the claim and blaming it was flooding), and a separate adjuster for flooding (denying the claim and blaming wind damage) the end result for both of these situations is that the industries (insurers and Wallstreet) continue to post record profits and countless average folk are left holding the bag. (these are not bags filled with unicorns and rainbows, but containing the pieces of their lives. these lives will be more stressful and economically uncertain, also shorter.)
@maxheadrom3088
12:50 But that would also need an interest rate reduction otherwise it would not change a lot since after a catastrophe the country would have to put aside more funds to roll the debt and, therefore, become less able to do the infrastructure work.
@mcdtubes
Buy Jamaica and make it the 52nd state after Canada. Problem solved.
@HalftoneCHANNEL
How you can protect or even ensure from something you cannot predict? This should be the gold egg! Insurance are made to this and are not new to this…
@jesperhammarlund300
cutting NOAA surely does not help. thanks trump...
@DanH-u3f
You mean like homes in Southern California?
@alvarogarzon7771
Such huge pearls on the neck of a third-world-poor-country's bureaucrat, while she talks on poor people that lost their huts in a climate change catastrophe. Not even the queen of England ever appeared with such kind of pearls talking about the commoners.
@Il-SKl
Cat bonds aren’t bought by the rich to get rich. It’s a simple risk mitigation concept.
@karlreisa3872
Bombaclat
@acard1985