Liberty Mutual Reinsurance has made its first earthquake parametric payment triggered by Safehub’s Shake Network. The payment followed a magnitude 5.8 earthquake in Peru that generated significant ground acceleration across multiple locations.

The policy was purchased in October 2025 to complement the insured's traditional placement. The parametric structure enabled the claim to be released 21 days after the event, with the funds to be used for immediate recovery costs.

The policy uses LM Re’s ShakeNet Parametric solution, triggered by Safehub’s sensor network and powered by the Global Earthquake Model’s OpenQuake engine.

Jean-Christophe Garaix, head of parametrics and agriculture at LM Re, said: "There is a huge potential for parametric insurance right now, particularly after recent seismic events in the LatAm region. The speedy payout in Peru demonstrates how the solution can strengthen disaster resilience.”

Andy Thompson, CEO of Safehub, added: “A parametric insurance policy is only as good as the data driving the trigger. This first-of-its-kind payout validates the real-world impact of Safehub's Shake Network. By providing hyper-localised shaking data, we are providing the precision and speed needed to best support clients. This is a significant step forward in building a more earthquake-resilient society.”

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