Investors Are Betting A Meteor Won't Destroy America

The search for yield has taken investors into the nether regions of the solar system. Last month, according to Artemis, a group that tracks catastrophe bonds, insurer USAA took out a policy against the risk it would have to pay out for tropical cyclones, earthquakes, severe thunderstorms, winter storms, wildfire, volcanic eruption and meteorite impact.  The reinsurer, Residential Re then turned around and issued a catastrophe bond worth $130 million to split up their USAA payout risk among inv...