But sidecars typically involve a bigger investment (at least $200m) than cat bonds and are shorter term: they mostly self-liquidate or renew in two years or less, says Mr Michel-Kerjan.
Michel-Kerjan介绍说,相对cat bond而言,sidecars通常涉及到更大额的投资(至少2亿美元)和更短的期限:它们大多在两年或者不到两年的时间内自行清算或者续约。