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
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...
A Louisiana listener shares a favorite passage from Laurie Lee’s memoir Cider with Rosie (Bookshop|Amazon), about his boyhood in post-World-War II England. An extract is here and contains the passage:“For the first time in my life I was out of the...