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LM Re, XS Global & Safehub launch world’s first sensor-based reinsurance treaty for earthquake risk

September 5, 2023


Liberty Mutual Re, the reinsurance arm of Liberty Mutual Insurance Group, MGA XS Global, and technology provider Safehub, have launched the world’s first sensor-based, parametric reinsurance treaty for earthquake risk.

According to the announcement, this treaty marks a new era of disaster risk management for insurance firms, risk managers and policyholders, as it is one that harnesses real-time building-specific sensor data.

Insurers will be able to use the smartphone-sized sensors provided by Safehub, placed in individual properties to accurately measure the shaking at the site, which will ultimately minimize basis risk and provider faster payouts.

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