California Earthquake Authority News

California Earthquake Authority to Sell $350M of Bonds

The California Earthquake Authority, the largest seismic insurer in the U.S., is selling $350 million in bonds to strengthen its ability to pay claims, after the state’s first death due to a quake in 11 years. The debt, which is …

California Has Another Great ShakeOut

At 10:16 a.m. on Thursday employees at Golden Bear Insurance Co. were all under their desks practicing good risk management. Oct. 16 marked another Great ShakeOut event in California. According to California Insurance Commissioner Dave Jones, today more than 10 …

California Governor Signs Bill Earthquake Insurance Information Bill

Gov. Jerry Brown has signed Assembly Bill 2064, a bill aimed at changing the way Californians learn about earthquake insurance for their homes. Under California law, insurers that sell residential property insurance also must offer earthquake coverage to their policyholders. …

Insured Losses From the Napa Quake Pegged at $250M or Less

Insured losses from the Aug. 24 earthquake that struck Napa, Calif. will not exceed $250 million, according to a risk management firm. Widespread damage was expected from the 6.0 magnitude event, but there wasn’t much business interruption as most area …

Busy Week for Those Assessing Damage from Napa Quake

“It’s been a busy week,” said Glen Pomeroy, CEO of the California Earthquake Authority. The magnitude 6.1 earthquake that struck Northern California in the early hours of Aug. 24 may cause up to $4 billion in economic losses by some …

M6.0 Earthquake is California Bay Area’s Strongest Since Loma Prieta

A magnitude 6.0 earthquake struck near Napa, Calif. early Sunday morning is the strongest earthquake to hit the San Francisco Bay area since the 1989 Loma Prieta earthquake, which registered a magnitude 6.9, according to catastrophe modeling firm AIR Worldwide. …

Report: $100M in Losses from Southern California Quake

The moderate earthquake that struck Southern California in spring did more damage than people may think – and a bigger quake on that fault could be more devastating than a “big one” on the region’s infamous San Andreas Fault, a …

CEA: Policy Sales Spiked Following California March Temblor

California Earthquake Authority insurance policy sales jumped following the March 29 magnitude 5.1 La Habra earthquake by nearly as much as the spike in policy sales following the March 11, 2011, magnitude-9.0 Tohoku earthquake in Japan, CEA reported on Friday. …

Policyholders File Claims, Get Payments For California Quake

The California Earthquake Authority reported Tuesday it has paid numerous claims for damage to homes that sustained “relatively minor damage” from the magnitude 5.1 earthquake that struck La Habra on March 28. Most CEA claim payments to date from the …

Twenty Years Later Big Lesson From Northridge Quake Lost

Twenty years ago today a big one hit the Los Angeles area, killing several people and injuring thousands, damaging tens of thousands of properties, shutting down businesses, putting out of operation some of the nation’s busiest freeways and radically changing …