Shake and Pay® First Dollar Earthquake Insurance Trials Brief Binding Deferment

FORT LAUDERDALE, Florida, July 10, 2021–(BUSINESS WIRE)– New Paradigm Underwriters, LLC (NPU) has issued a binding brief suspension for Shake and Pay® First-Dollar earthquake insurance due to the 6.0 magnitude earthquake near the California border Nevada on Thursday, July 8, 2021.

Shake and Pay® Software Update

On behalf of New Paradigm Underwriters, LLC (NPU), we appreciate your support of the Shake and Pay® parametric earthquake program. In light of Thursday’s 6.0-magnitude earthquake near the California and Nevada border, we’re in a brief lockdown period to tie in new seismic policies within a 150-mile radius of the epicenter. This affects the eastern regions of northern California.

We continue to secure and correlate hazards more than 150 miles from the epicenter. This includes southern California, many areas of central California, and western parts of northern California.

The following counties are currently on the moratorium notice: Alameda, Alpine, Amador, Butte, Calaveras, Colusa, Contra Costa, El Dorado, Fresno, Glen, Ino, Kings, Lassen, Madeira, Mariposa, Merced, Mono, Napa, Nevada, Placer, Plumas , Sacramento, San Benito, San Joaquin, Santa Clara, Sierra, Solano, Stanislaus, Sutter, Tulare, Tuolumne, Yolo, Yuba.

Shake and Pay® is one of the most comprehensive and responsive (non-deductible) first dollar solutions that helps solve balance sheet and budget issues affecting everything from the public sector, commercial and residential insurers to the California community. Shake and Pay® covers nearly all things that the traditional insurance industry would otherwise exclude or heavily forgo; Like pools, business interruption without property damage, loss of tax revenue.

Although many insured understand the ongoing risks associated with earthquakes, some insureds will renew their focus on earthquake risk after events such as Thursday’s 6.0-magnitude earthquake. If the NPU can assist with placements for insureds in areas of the state that remain open to commitment, or if insureds in other areas would like to begin exploring their coverage options, please call us at 954-713-9999 ext. 113 or [email protected].

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www.shakeandpayeq.com CA License No. 0N07286DBA: New Model Insurance Solutions

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Contacts

Gloria Hendrix @ npuins.com

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