A planned Bermuda issuance would put legal ownership onchain and seek capital for disaster risks that remain costly to insure. Natural disasters caused $220 billion in economic losses last year, but insurance covered only $107 billion, leaving households, businesses and governments to bear the rest. The catastrophe-bond market reached $65.6 billion in June, as insurers increasingly transferred disaster risks to investors despite persistent coverage gaps, particularly in the Asia-Pacific region.…
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