Liberty Mutual Reinsurance Group (LM Re), part of Liberty Mutual Insurance Group, and Safehub have issued a payout for the magnitude 5.8 earthquake in Peru that triggered Safehub’s Shake Network.
According to the pair, the earthquake that struck Ica on 19 May 2026 produced significant ground acceleration at multiple client locations.
The policy, which is being dubbed by the pair as the “world’s first earthquake parametric payment triggered by the Shake Network,” uses ShakeNet Parametric, LM Re’s earthquake parametric solution that is triggered by Safehub’s proprietary sensor network. Price Forbes Latam brokered the deal.
Powered by the Global Earthquake Model’s (GEM’s) OpenQuake engine, and informed by Safehub’s sensor network, the solution delivers highly localised shaking information that supports rapid, transparent, and objective payouts while enhancing emergency response and post-event decision-making, explained the duo.
The pair have also affirmed that the policy was purchased by the client in October 2025 to complement their traditional placement with a quicker response solution in the event of a catastrophe.
Due to the parametric structure, the claim was released 21 days from the event, and the funds will be used to cover immediate recovery costs.
This parametric solution reiterates the growing importance of high-resolution earthquake impact data in commercial and sovereign risk transfer programs worldwide.
Jean-Christophe Garaix, Head of Parametrics and Agriculture, LM Re, commented, “Parametric insurance is increasingly being used to support natural catastrophe events. We deliver sophisticated parametric solutions which help clients in their times of need. 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, Chief Executive Officer, 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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