Parametric Earthquake Insurance in California

Earling's short-term earthquake risk models have demonstrated the ability to detect the risk of major earthquakes, such as the M6.4 in December 2022 and the M6.2 in December 2021, before these events occurred and informed more than 50 specialists and authorities on time. From the perspective of earthquake risk transfer through parametric earthquake insurance, Earling's services offer significant benefits for individuals, the enterprise sector, and (re)insurance companies.

Earthquake Parametric Insurance Benefits for Individuals

  • Financial Protection: Earling's risk models enable individuals to obtain parametric earthquake insurance, providing them with a predetermined payout if an earthquake occurs, thus offering financial protection during challenging times.
  • Coverage for Additional Expenses: In the event of an earthquake, the payout from parametric insurance can help individuals cover additional expenses, such as temporary accommodation, meals, and other unforeseen costs.

Earthquake Parametric Insurance Benefits for the Enterprise Sector

  • Risk Transfer: Earling's services allow businesses to transfer their earthquake risk by purchasing parametric insurance policies, thus mitigating potential financial losses resulting from seismic events.
  • Business Continuity: In the aftermath of an earthquake, the rapid payout from parametric insurance can support business continuity, helping enterprises to recover and resume operations swiftly.

Insurance Companies

Risk Mitigation: Earling's risk models contribute to risk mitigation for (re)insurance companies by providing accurate and timely earthquake risk data, enabling them to underwrite and manage their exposure effectively.
Closing the Protection Gap: Parametric earthquake insurance, facilitated by Earling's services, helps (re)insurance companies address and close the protection gap, ensuring that individuals and businesses have access to financial support in the aftermath of seismic events.

In summary, Earling's short-term earthquake risk models and the parametric insurance solutions they enable offer valuable benefits for individuals, the enterprise sector, and (re)insurance companies, providing financial protection, supporting business continuity, and contributing to effective risk management.

Tag