Cat bonds effective safeguard of charity spending: Red Cross’s Bornstein
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Cat bonds effective safeguard of charity spending: Red Cross’s Bornstein

Alex Frampton
21 June 2021
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Volcano eruption in Eyjafjallajokull in Iceland.jpg

Cat bonds are an efficient and well-targeted answer for insuring charitable spending, according to Adam Bornstein, leader of the team at the Danish Red Cross, which oversaw the issuance of its debut cat bond covering volcanic eruptions.

After raising $3mn for its parametric deal in March, Bornstein spoke to Trading Risk about the charity’s plans for the ILS market and how more humanitarian organisations could be brought to consider insurance transactions.

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