Jumpstart is thrilled to announce that we’ve expanded our parametric earthquake insurance to Washington and Oregon. The Pacific Northwest faces nearly as much earthquake risk as California. And now, residents of Washington and Oregon have a new, accessible, and affordable way to protect themselves from earthquakes.
A parametric product allows for the elimination of the traditional claims process and deductibles. Quick, dependable payouts empower people to begin their recovery immediately, without a cloud of unnecessary uncertainty.
Resilience advocates in Oregon and Washington are no stranger to the risk in their states. OSSPAC routinely publishes policy recommendations in its Oregon Resilience Plan and Cascadia Playbook.
OSSPAC’s Seismic Insurance Report in particular cites that approximately 15% of Oregon’s residents and 11% of Washington’s residents carry insurance coverage for earthquakes, leaving a large segment of the population unprepared to meet their needs following an earthquake.
And helping more people meet their first needs is exactly Jumpstart’s mission. Our unique parametric insurance pays a lump-sum right away that policy holders can use to pay for any expense related to the earthquake. It’s a critical step toward financial resilience in earthquakes.
We are so proud to be launching Jumpstart in Washington and Oregon, and we look forward to protecting more people with parametric earthquake insurance.