US Coastal Insurers Launch $310M Cat Bond for Storm Coverage

US Coastal Insurance and US Coastal Property and Casualty Insurance are seeking to expand their risk management solutions with the issuance of a new catastrophe bond, Chartwell Re, which aims to secure $310 million in coverage for named storm damages.

This strategic move is poised to bolster their financial resilience against severe weather events, which are increasingly impacting coastal regions. The introduction of Chartwell Re highlights a growing trend among insurers to leverage financial instruments to mitigate large-scale risks associated with climate change.