Swiss Re has partnered with Arrowhead and Falls Lake to launch a parametric insurance solution dubbed Quake Assist within California. The product offers business interruption cover in the event of an earthquake, even if the customer's building suffers no damage. In addition to offering earthquake coverage, QuakeAssist, which is available for purchase through QuakeAssist.com, also provides other services such as flood insurance, property damage assessments, and personal injury insurance.
Swiss Re has partnered with Arrowhead and Falls Lake to launch a parametric insurance solution dubbed Quake Assist within California. The product offers business interruption cover in the event of an earthquake, even if the customer's building suffers no damage. Payments are based on the insured's distance from the quake's epicentre and its size, with a minimum level of 4.0 on the Richter Scale.