Magnitude 7.1 Ridgecrest earthquake

UPDATE July 6: It’s been a long, scary night with hundreds of aftershocks. We stand in solidarity with our fellow Californians whose lives are affected by this earthquake. We are so relieved to hear initial reports of no deaths and no building collapses.

All of us at Jumpstart send wishes of continued safety for residents and responders.

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Magnitude 6.4 Ridgecrest Earthquake

There have been a series of earthquakes today, July 4, 2019, near Ridgecrest, CA.

The largest of these, Magnitude 6.4, was large enough that it likely created a Jumpstart payout zone, but only in the region near the epicenter. The reason we say “likely” is that the determination is not final until 24 hours after the occurrence of the earthquake.

Update: On July 5, 24 hours later after it was determined that there was, in fact, a Jumpstart payout zone due to the M6.4 earthquake. 

As a reminder, Jumpstart’s payment zone is defined by a peak ground velocity of 30 cm/sec. This is roughly equivalent to the “red zone” on the USGS Shakemap. The Shakemap for today’s earthquake can be viewed at this link:

https://earthquake.usgs.gov/earthquakes/eventpage/ci38443183/shakemap/intensity

This is a good reminder to spread the word about how Jumpstart can help build financial preparation for an earthquake.

Here’s a sample social post:
Check out @yourjumpstart, a new way to be financially prepared for the next #earthquake. jumpstartrecovery.com

 

Industry Veteran Sally Sproat joins Jumpstart Team

Oakland, CA, March 15, 2019 for immediate release

Jumpstart is delighted to announce that Sally Sproat has joined the team in a senior executive role.  Sally will lead Jumpstart’s Business Development, to accelerate distribution of Jumpstart’s product through organizations and employers.

“No other person in the world is as well-suited to this role as Sally,” says Jumpstart’s CEO Kate Stillwell.  “Her experience understanding parametric products, and selling them into large organizations, is sure to propel our growth.  We are incredibly fortunate and grateful that she’s now part of the team.”

Ms. Sproat brings 30 years of insurance-industry experience, most recently as Senior Vice President at Swiss Re, where she led sales to public entity and large-organization clients, helping them transfer and manage risk, with a variety of products including parametric.

“I’m thrilled to be joining this energetic and forward-thinking team,” says Ms. Sproat.  “Parametric has huge potential to help fill the protection gap, and I’m excited that Jumpstart has finally brought it to consumers.  Even more so, I’m pleased to be a member of the high-caliber team that Kate is growing.  I eagerly look forward to being part of Jumpstart’s success.”

Sally’s initial responsibilities include building a sales pipeline of organizational clients for Jumpstart, particularly public entity employers, membership organizations, and established insurance brokerages.

About Jumpstart

Jumpstart is the first to provide parametric earthquake insurance for renters and homeowners in the U.S., in partnership with leading financial institutions. Parametric is a form of insurance where payments are linked to measurable events, such as the shaking intensity of an earthquake.

Jumpstart Insurance Solutions, Inc. is a California Benefit Corporation and a licensed surplus lines insurance broker in California (#0K67793). Jumpstart complies with all state-mandated regulations for surplus line insurance brokers. For more information, please visit www.jumpstartrecovery.com.

 

Contact

Kate Stillwell

(510) 891-1753

[email protected]

The Earthquake That Killed Insurance (and how the industry is making a comeback)

This little-told story is a must-read for anyone buying a home in earthquake country. It’s been 25 years since the Magnitude 6.7 Northridge earthquake, and what lasting legacy has it left?  An overhaul to the insurance industry.

Continue reading “The Earthquake That Killed Insurance (and how the industry is making a comeback)”