There is a fundamental tension in the cat bond market. Most investors want greater transparency in the bond structure; as a result, they often prefer parametric structures in which bonds are triggered by a physical or numerical index like wind speed. Issuers, on the other hand, tend to be more concerned with basis risk, the risk associated with imperfect hedging.
Many older barns and homes were sided with hemlock boards, but the wood is not as valuable as pine or spruce. No other plant in the province is as rich in tannin, and so hemlock bark was much in demand for tanning leather. Hemlock has a life expectancy of between 300-400 years. When large trees fall down, they take a long time to decompose and provide both nutrients and moisture to young seedlings.
That said, no amount of care can make an elm live as long as a sequoia. Some of the shorter-lived trees are include palms, which can live around 50 years. The persimmon has an average lifespan of 60 years, and the black willow will probably survive for around 75 years. On the other hand, Alaska red cedar can live up to 3,500 years.