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Turn to Hurricane 'Insurance'... on Wall Street? |
August 30, 2011
Insurers and utilities who face major losses related to Hurricane Irene may find some help, not from the federal government, but Wall Street. Insurance and utility companies, which stand to lose from the billions of dollars in damages from Hurricane Irene, can bet how much damage will incur during hurricane season through financial products. And if their bids are accurate, they could receive a payout.
http://feeds.abcnews.com/click.phdo?i=12124da93e95b8e7b68d0312d4cebed0
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