Colombia and Peru are considering re-joining a World Bank program that issues bonds to cover natural disaster claims, as renewed investor interest follows the bank’s USD 630 mln earthquake protection deal for Chile in March. The program involves catastrophe bonds, where investors risk losses in the event of a disaster. Both Colombia and Peru have previously had the World Bank issue bonds on their behalf. Colombia is structuring a potential transaction to protect against excess rain costs, including flooding. Meanwhile, Peru is having exploratory talks with the World Bank to cover earthquakes.