United States, Nov. 7 -- Following Hurricane Melissa, the Government of Jamaica will receive a full payout of $150 million under its catastrophe insurance coverage with the World Bank, backed by a catastrophe bond issued in 2024 by the World Bank (International Bank for Reconstruction and Development, or IBRD, AAA/Aaa).Analysis carried out by third-party calculation agent, AIR Worldwide Corporation, concluded that Hurricane Melissa reached pre-agreed parametric triggers qualifying for a full redemption of the World Bank Catastrophe Bond, which offers Jamaica financial protection against specified natural disasters. The analysis was based on the storm's central pressure and path, as reported by the National Hurricane Center.As one of the mos...