Keep pulling the thread on Hurricane Imelda.
The hurricane-resilient roof on Paige Morgan's home in North Carolina is being funded by a catastrophe bond.
Catastrophe bonds, a financing tool backed by Wall Street, are growing in popularity.
The North Carolina Insurance Underwriting Association has never had one of its catastrophe bonds pay out to investors due to a triggering event.
Proceeds from catastrophe bonds sponsored by the North Carolina Insurance Underwriting Association are being used to subsidize the cost of hurricane-resilient roofs for homeowners.