cat bond
n.— «His name was John Seo, he was 39 years old and he ran a hedge fund in Westport, Conn., whose chief purpose was to persuade investors to think about catastrophe in the same peculiar way that he did. He had invested nearly a billion dollars of other people’s money in buying what are known as “cat bonds.” The buyer of a catastrophe bond is effectively selling catastrophe insurance.» —“In Nature’s Casino” by Michael Lewis New York Times Aug. 26, 2007. (source: Double-Tongued Dictionary)
Further reading
A writer stumbles upon a tiny, motionless creature on a country road and, against all good advice, takes it home. The resulting memoir, Raising Hare, is a lovely meditation on nature and our relationship to it. And: have you ever invented a fake...
Our discussion of Anglo-Saxon kennings inspired listener Paul Holler of Arlington Heights, Illinois, to write a lovely poem exploring the idea of the kenning sea-guest, meaning “sailor,” and what it means to be a guest of the sea and what that says...