US-based parametric (re)insurer NormanMax Insurance has agreed a three-year partnership with the Global Earthquake Model Foundation to improve earthquake preparedness, recovery and risk reduction worldwide.

The Global Earthquake Model (GEM) Foundation and NormanMax Insurance Solutions - a global leader in parametric insurance solutions have signed a sponsor agreement to help improve earthquake preparedness, recovery, and risk reduction worldwide. This collaborative effort, spanning from 2024 to 2027, underscores the shared commitment of both organisations to minimising earthquake losses and improving seismic risk assessments around the world.