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LM Re and Safehub pay out on Peru quake under parametric policy
The magnitude 5.8 earthquake in Ica on May 19, 2026 triggered a payout released 21 days after the event to help cover immediate recovery costs.
Liberty Mutual Reinsurance Group, part of Liberty Mutual Insurance Group, and Safehub issued a payout for a magnitude 5.8 earthquake in Peru that struck Ica on May 19, 2026, according to the two firms.
The companies said the payment was triggered through Safehub’s Shake Network and is linked to LM Re’s ShakeNet Parametric solution, which uses Safehub’s proprietary sensor data to deliver highly localized shaking information.
The earthquake policy, which Liberty Mutual Re described as “world’s first” in its category, was priced to complement a client’s traditional reinsurance placement, with the coverage purchased in October 2025.
The claim was released 21 days from the event, and the funds are intended to help cover immediate recovery costs, the companies said, adding that the approach supports faster, more objective payouts and can improve emergency response and post-event decision-making.