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16.12.25 - 08:06
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A hurricane destroyed their homes in Jamaica. Now they fear losing the jobs they rely on in the US (The Guardian)
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Thousands of Jamaican workers who come to the US on an H-2A visa say they aren't sure if they'll be able to return from one year to the nextFarm worker Owen Salmon has picked apples in upstate New York for almost a decade, some 1,500 miles (2,400km) from home. In the midst of harvest season this year, Hurricane Melissa, a record-breaking category 5 hurricane, made landfall in Jamaica.“It was terrifying,” said Salmon, whose wife and two children were at home near Black River, a town on the country's south-western coast. “For days, I couldn't hear from them. When I finally did, I heard my roof was completely gone. My wife and kids had to run for their lives, but thank God they're alive.” Continue reading......
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31.10.25 - 15:36
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Jamaica′s Catastrophe Bond Poised For Big Payout Within Weeks After Hurricane Melissa′s Insane Strength (ZeroHedge)
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Jamaica's Catastrophe Bond Poised For Big Payout Within Weeks After Hurricane Melissa's Insane Strength
Hurricane Melissa was the most powerful storm to make landfall in Jamaica in over 170 years, ripping through the Caribbean island's western region with 185 mph winds and leaving widespread destruction to infrastructure, towns, resorts, and farmland. The storm's central pressure is likely to have fallen below the threshold that would trigger a $150 million catastrophe bond designed to offset weather-related losses through the capital markets.
According to CNBC, the government of Jamaica's $150 million cat bond was structured by insurance broker Aon using the International Bank for Reconstruction and Development's "capital at risk" program and could be triggered as soon as next month.
For the island nation's government to receive funds, the storm's central pressure must be less than 900 millibars upon landfall. Early indications from the National Hurricane Center show t...
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