A catastrophe modeler said today that the World Cup soccer event has proven the viability of using terrorism catastrophe bonds to handle risk.

“It's a vindication,” said Gordon Woo, a catastrophist in the London office of Risk Management Solutions, which did a risk analysis concerning the possibility of event cancellation due to terrorism for the F?d?ration Internationale de Football Association.

The Golden Goal Finance Ltd. $260 million terrorism catastrophe bond issue covering the cancellation of the FIFA World Cup was oversubscribed when it was offered, he noted.

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