For us, in Jamaica, we implemented a catastrophe bond in 2021 for a three year period, and then we renegotiated another one that's in effect right now.
I think right now it's contingent and they can't make it live and active again until this situation is sorted because this offer is still halfway out there.
And what it means is if those parties deem Iran to be in violation of the nuclear deal, they can unilaterally activate this mechanism, which would mean the return of UN sanctions on Iran.