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.
Earthquake preparedness kit recommendations abound on the Internet. Most suggestions for earthquake kits include the consensus items–food, water, shelter, clothing–but the variations in details are infinite. Here are three alternatives to the usual kit items that can help you bounce back in a disaster.
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.)
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.”)
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.