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Rio Dell council authorizes staff to add base-level parametric earthquake insurance
Summary
Council approved staff direction to add base-level parametric earthquake insurance (5-0). Staff said the quoted annual premium is $13,730 for up to $500,000 coverage and that the policy could provide immediate discretionary cash in a post-earthquake period; council must respond to the joint-risk authority by 12/19/2025.
The Rio Dell City Council unanimously authorized staff to pursue a base-level parametric earthquake insurance option presented by the city's joint risk pool, SCORE.
City staff described parametric insurance as a model that pays based on measurable seismic metrics (ground shaking intensity) rather than on itemized damage estimates. The staff…
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