The California Earthquake Authority (CEA) announced it is celebrating its five-year anniversary, having recently surpassed the $1 billion milestone for cash reserves.
Back in December 1996, the CEA began providing earthquake coverage for residential property owners, condominium owners, mobile home owners and renters across California.
The CEA stated it has more than $7.2 billion available to pay claims, including $1 billion in cash reserves should an earthquake hit California.
Like this article?
Banks Still Face Legal Claims After $25 Billion Settlement
MF Global Judge to Examine Insurance Payments for Former Executives
Daredevil CEOs May Put Companies at Risk
California Independent Contractor Law May Be Liability for Agents, Brokers
North Carolina Continues Auto Regulation Debate As Rates Stay Same for 2012
Long-time California Lobbyist Looks to 2012 Legislation Affecting Insurance
Mine Safety Chief Seeks to End Complacency Over Safety
Virginia Court Grants Rehearing of Global Warming Claims Case
