California Earthquake Authority News

2016 Could Be a “Perfect Storm” for California Insurance Sales

This post is part of a series sponsored by California Earthquake Authority.  El Niño may have ushered 2016 in with above average rainfall. However, we may be witnessing the perfect storm for the California insurance industry. The following facts indicate …

Grants Now Available to Strengthen Older California Homes

California homeowners have until Feb. 20 to apply for up to $3,000 in funding for retrofits to protect their homes from catastrophic earthquake damage. The Earthquake Brace + Bolt program today opened the registration period for $4.8 million in seismic …

5 Reasons Why Agents’ Phones Might Start Ringing in 2016

This post is part of a series sponsored by California Earthquake Authority. Smart insurance agents are told never to sit around waiting for the phone to ring — you can’t win much business if you don’t have a strategy to …

California Earthquake Authority’s 2016 Changes Aim to Increase Policy Count

It’s about the closest thing to DIY earthquake insurance as one can get, though there’s definitely no indication that the newest consumer-friendly features being rolled out by the California Earthquake Authority will enable people to do without their agents. CEA …

California Funds Incentives For Earthquake Protection

When California Gov. Jerry Brown signed the 2015-2016 budget, it included $3 million in funding to expand the Earthquake Brace and Bolt program and clarified that the program’s grants are income-tax exempt at the state level. California Insurance Commissioner Dave …

California Department of Insurance Approves CEA Rate Reduction

California Insurance Commissioner Dave Jones approved a statewide rate reduction of 10 percent for earthquake insurance policies issued by the California Earthquake Authority. The reduction is effective Jan. 1, 2016. Jones also approved additional CEA coverage options for consumers, including …

Increased Chance of Big One in Long-Term Quake Forecast for California

Chances that California will experience a magnitude 8 or larger earthquake in the next 30 years has increased from 4.7 to 7.0 percent, according to an earthquake forecast by the U.S. Geological Survey and its partners. The Third Uniform California Earthquake …

CEA Kicks off Earthquake Insurance Selling Program for Agents

The California Earthquake Authority has again kicked off its annual “Marketing Value Program,” in which the quasi-private earthquake insurer encourages agents to sign up to receive direct mail marketing pre-printed with agents’ names to send to potential clients. This is …

Earthquake Authority to Study Quake’s Impact on Napa Homes

The California Earthquake Authority has begun surveying Napa residents to find out how well their homes withstood the magnitude 6.0 earthquake centered in the South Napa area on Aug. 24, 2014. Under an initiative that CEA executives hope will lead to …

Catastrophe Bond Issuance Reaches Record Levels: Aon Benfield Report

Property catastrophe bond issuance for the fourth quarter 2014 stood at USD$2.1 billion across six separate transactions, contributing to a record annual property catastrophe bond issuance of USD$8.0 billion, according to a report published by Aon Benfield Securities, the investment …