For over a decade, Jamaica has been diligently working on creating a financial safety net in the event of Jamaica disaster plan. As Hurricane Melissa tears through the island nation, leaving a trail of destruction in its wake, Jamaica’s investment in financial resilience is set to pay off in a very literal way. Jamaica’s fiscal readiness could set a precedent for other climate-vulnerable nations around the globe.

Caribbean hurricane on Jamaica’s $150 million U.S. catastrophe bond, or “cat bond, ” will be met when a major hurricane strikes and should soon result in a payout based on the storm’s strength and path.

“The cat bond is linked to the minimum pressure of the hurricane at landfall,” Florian Steiger, CEO of Icosa Investments, a Swiss-based investment management firm focused on cat

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