Parametric describes a type of insurance that works differently than the conventional “indemnification” insurance types (e.g. Home, Life, Auto) familiar to most consumers. Parametric insurance involves a special type of financial contract that transfers money to policyholders upon the occurrence of specific, predefined events.
Parametric insurance contracts define the characteristics or thresholds of events that will trigger payments. Those characteristics are also known as the events’ “parameters” (thus the name “parametric.”)
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When will the next big earthquake hit? With major fault lines in California, it’s not a matter of if, but when. Learn about fault line cycles, signs of movement, and the interval between of major earthquakes along the Hayward fault.
Continue reading “Are We Due for a Big One?”
We’ve secured our bookshelves, packed go-kits, and set emergency plans. We like to think we’ll be cozy at home when the “Big One” hits. But, consider the worst-case scenarios: What are the most dangerous places to be when a major earthquake happens? We explore three earthquake danger spots.
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Most of us are familiar with the magnitude ratings used to quantify the strength of earthquakes, but what do those numbers really mean? Learn about the systems scientists use to measure earthquake strength beyond the Richter scale.
Continue reading “How Earthquake Strength Is Measured”