A year ago, a unique cat bond that melded volcano risk and humanitarian relief was a headline-grabbing unique deal. David Howden, one of its architects, claims as many as 30 more deals are in a very robust pipeline.
In March 2021 Howden Group, via its charitable foundation the Howden Foundation, was instrumental in arranging a world first: a cat bond specifically designed to ensure that funds for humanitarian relief are made available faster and more efficiently, potentially saving lives and livelihoods in the process.
That deal also made headlines because it involved volcano risk—another world first. It was done on behalf of the Danish Red Cross and will enable humanitarian relief in the event of a volcanic eruption at 10 specific sites across three continents.
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