Earthquake parametric insurance
Pays out on the ground shaking measured at the insured coordinates by the USGS ShakeMap, without waiting for a damage survey.
Index, trigger and payout
Payout
How the cover works
What is measured, and when it pays.
- Risk covered
- Financial loss from ground shaking at or near the insured location.
- Parametric trigger
- PGA or MMI at the insured coordinates (USGS ShakeMap).
- Payout
- Predefined payout compensating the loss, sized on an 11-tier trigger scale.
- Index resolution
- Named asset, per event
- Data and model
- USGS + Gutenberg-Richter law (b≈1).
- Typically for
- Construction & infrastructure Cities, public bodies & NGOs
Bought by the same clients
Related covers.
Next step
Test the trigger on your own location.
We back-test the index at your site over its full history and come back with indicative terms, before anything is bound.