Economics
Houston Eyes Designer Bonds to Pay for $15 Billion Ike Dike
- Twist on catastrophe insurance partners with private industry
- ‘Resilience bonds’ would help fund 60-mile levee system
An Air Force Reserve pararescueman from the 920th Rescue Wing scans the landscape of Nederland, Texas in the aftermath of Hurricane Ike, Sept. 13, 2008.
Source: U.S. Air Force
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A massive dike to hold back storm-driven floods surging in from the Gulf of Mexico was first proposed after Hurricane Ike devastated the Houston-area coast a decade ago.
Last year’s Hurricane Harvey disaster brought fresh enthusiasm for the languishing project – along with a wave of investor interest.