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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At the end of summer, we stock up on school supplies to prepare our kids for the educational year ahead. With a little practice, preparing each school year for earthquake safety can become just as routine. Start with these three simple steps.
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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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If you live in earthquake country, properly preparing yourself for a major disaster can seem overwhelming–for example, the CDC lists more than 70 “suggested supplies” for an earthquake kit. Strap down your water heater, bolt your foundation, secure top-heavy furniture, make a family plan — all great ideas, but there’s one thing to do first:
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