What is being called the first sensor-triggered earthquake parametric insurance policy in the U.S. was purchased by The University of California.
Liberty Mutual Reinsurance, part of Liberty Mutual Insurance Group, and Safehub, a technology provider in seismic sensor and risk management solutions, partnered with the University of California to protect campuses from the risk of earthquake damage.
LM Re and Safehub’s bespoke sensor-triggered policies have previously been rolled out in Mexico and the Caribbean.
Liberty Mutual Re acted as the insurer, with additional reinsurance capacity from Munich Re. Alliant brokered the deal, with Howden also involved in the placement.
Under the policy, claims are triggered and settled based on measurements from 180 Safehub sensors installed across multiple UC locations.
Topics Catastrophe Natural Disasters California Education Universities
Was this article valuable?
Here are more articles you may enjoy.
The $3 Trillion AI Data Center Build-Out Becomes All-Consuming for Debt Markets 
Allstate CEO Wilson Takes on Affordability Issue During Earnings Call 
What Analysts Are Saying About the 2026 P/C Insurance Market 
Florida’s Commercial Clearinghouse Bill Stirring Up Concerns for Brokers, Regulators 
