LADWP structures wildfire parametric catastrophe bond with Aon

Buyer: Los Angeles Department of Water and Power (LADWP)

Awardee

Aon

Details

As part of its wildfire mitigation plan, the publicly owned utility developed with broker Aon a parametric wildfire catastrophe bond that pays out on a location-based wildfire trigger rather than proven losses, described as a first-of-its-kind structure for a US municipal utility.

Source

Official solicitation / award →