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.
As a founder, I occasionally get asked “important” and “strategic” questions like: Does Jumpstart as a company have resolutions for the New Year?
Well, in fact, this year I did set two resolutions for the company. The constant uncertainty of a startup is not always easy, and these resolutions represent some of the ways we cope and thrive.
If you had Jumpstart earthquake insurance 40 years ago, when would you have received a payment? Over the last 40 years, 16 earthquakes would have triggered a Jumpstart payment in California. In other words, Jumpstart makes payments in about three earthquakes per decade.
How does Jumpstart determine payment eligibility immediately after an earthquake occurs? To ensure fast, fair payments, we use data from the United States Geological Survey. The USGS is the US government agency responsible for measuring earthquakes and a leading authority on seismic activity around the world.
Getting through life is hard enough—who can afford to think about earthquakes? Well, here’s some good news: the same things that help us get through life are what will help us most in an earthquake: good friends, a financial cushion, and a phone charger.
(And yes, I did just reveal the secret of life in a top-three.)