Terms were not disclosed.

Jumpstart, a licensed surplus lines insurance broker selling online and using Lloyd’s capacity, began offering earthquake insurance in California in 2019 in the form of a parametric product, with payments linked to a formula and based on U.S. Geological Survey earthquake measurements. The company provides a set payout amount based on the quake intensity, rather than the cost of damage.

Policies are underwritten and administered by AmWINS Group Inc. Policyholders pay a monthly amount and are paid a set amount automatically if there is an earthquake in their area.The policyholder receives the funds in a matter of days with no deductible, no adjusters, and no paperwork. Quick coverage payout offers range up to $10,000 for individuals and $20,000 for small businesses.

Late least year, Jumpstart started offering its product in Oregon and Washington as well.

Jumpstart’s policies are available to renters, homeowners and businesses. The average monthly cost in California is $20 per month, the average in Washington is $13, and in Oregon it’s $8 per month for a $10,000 payout, according to Jumpstart. Prices are double for a $20,000 payout.

Neptune Flood is a private flood market backed by London underwriters and is an alternative to the government’s National Flood Insurance Program. Neptune Flood’s residential and commercial flood products are available nationwide.

Neptune uses artificial intelligence-driven technology to make it fast and easy for consumers to buy, and agents to sell, insurance. The company is based in St Petersburg, Fla.