It's surely only a matter of time before these things are securitized. As you point out, what to call them is the challenge. Unfortunately "catastrophe" bonds is already taken.

While I am most assuredly not the ad agency rubber room type, here are some initial thoughts:

Denup Bonds

Unhitch Bonds

Shaft Bonds (From the old country song "She got the goldmine, I got the shaft."
Cynical Professor | 06.12.06 - 12:41 pm | #