The All-Hands Property & Casualty Insurance Company has been particularly concerned about increased Catastrophic Risks with Climate change, with climate change with losses because of catastrophic risks Increasing. For its 2019 annual report, All-Hands estimated the effect of catastrophic losses on its combined ratio including loss and operating expenses to be 7.3% of these in 2019 and 8.7% in 2018. Discuss how climate change risks affect property and how catastrophe bonds are being used to hedge against catastrophic risks that insurance companies face.