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Swiss Re to launch parametric earthquake coverage

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Swiss Re to launch parametric earthquake coverage

Swiss Re Ltd. plans to launch a parametric earthquake insurance product – Swiss Re QUAKE – which will make use of the United States Geological Survey ShakeMap data to structure parametric triggers and define payouts, Artemis.bm reports. With this product, the reinsurer is looking to help clients reduce their basis risk by structuring customized parametric solutions that match assets at risk with trigger design.

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