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However, it still faces the problem of basis risk to make reliable payouts based on objective assessment of individual losses from climate shocks.
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They do not make reliable history.
The acquisition would also limit CSC's ability to make future payouts to shareholders, he said.
However, the bank will continue to make higher payouts than allowed under the new cap because it has introduced new "allowances" on top of pay and bonus payouts.
But while some funds offer annuity-like features, and expect to make consistent payouts, none carry an annuity's contractual guarantee of specific payouts.
Chancellor George Osborne said the government was under no legal obligation to make the payouts.
In 2011, many major insurance companies made large insurance payouts to the Tohoku region, but local insurance companies in Kyoto did not need to make such payouts.
Bond insurers have been plagued by worries that an increase in mortgage defaults will require them to make significant payouts.
With more companies expected to make payouts and an increasing number of companies raising payouts, the argument for stock investing is even more compelling.
But this does not make them reliable.
And that calculation is based only on companies that currently make payouts.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com