{
  "type": "ZkVmReceipt",
  "system": "risc0",
  "receiptFormat": "groth16-bn254",
  "imageId": "sha256:a1a0bc89b5b1febaeda3519f6dbade0fa5ac16beeb143c4e1b01689573567bc6",
  "seal": "CrB5NZq0aRr/cpLT64uT/ZuRirA0XkGPnifOWRXvtoMPi+HhXBW9iqEpI6vUJtHZZsyqhWw7LgMYr/Dfji8ugwUEb2NVnc+Rngm6RaKNxrCH6/PPSDhdnLXOMpIKouWSBmpYTFSQppuTdVEYQOPXtX+PImJ7aEUCMdXcQNHQUIAtluiMWS3OJFNKhjfUmwWwxx1byPTGGfsA51DJjY8OXhTyiQUoSoOxVEpUb8T8b4En6T9dXGLWIV+RQ/da0ib+KWbDrwUXLTkc05f1nnZ75Lv/CBNxb+UKMOxfWyjfj7Yna66X81RYjA4u+6wB1nFDffcjGOM/xW3CvQPRPgtCxg==",
  "journal": {
    "chaingraph_version": "0.4.0",
    "kernel_digest": "sha256:2d69f187e9c32ff8b2bcd4346e912a0546f39bd91839fd9b301e67c13e36a438",
    "output": {
      "attachment_breached": true,
      "cascade_attachment_check": null,
      "coverage_amount_used": 500000000,
      "excess_above_attachment": 250000000,
      "exhaustion_reached": false,
      "implied_coverage": 500000000,
      "issues": [],
      "layer_position": "WITHIN_LAYER",
      "layer_width": 500000000,
      "not_legal_advice": "Not legal or actuarial advice. Final payout determination requires review of the controlling bond indenture and independent loss verification.",
      "payout_amount": 250000000,
      "pii_note": "ZERO PII: layer terms and aggregate loss amounts only. No policyholder, claimant, or event-specific personal data enters this kernel.",
      "pro_rata_factor": 0.5,
      "regulatory_basis": "ISDA/IAIS cat bond trigger definitions; Swiss Re sigma cat bond trigger methodology (indemnity / industry loss index / parametric / modelled loss). Layer arithmetic per standard IAIS ICP 13 reinsurance principles.",
      "table_source": "ISDA/IAIS cat bond trigger definitions; Swiss Re sigma 1/2024; ARTEMIS.bm cat bond market data Q1 2026; NAIC catastrophe bond guidelines",
      "table_version": "CAT-BOND-TRIGGER-TERMS-V1.0-2025",
      "terms_valid": true
    }
  }
}