California Earthquake Authority News

California Earthquake Authority Policy Sales up 5.4% in 2Q from Year Ago

Californians may be getting the idea that they live in earthquake country. That’s the underlying message that can be found in the latest figures out from the California Earthquake Authority. The CEA, a not-for-profit, publicly managed organization, announced on Monday …

Exclusive: California Broker Plans Parametric Quake Product That Pays Even If No Damage

A California broker is promising to bring a “first-of-its-kind financial resource” that pays homeowners after an earthquake for a low monthly premium whether there’s damage to the home or not. A Berkeley, Calif.-based firm called Jumpstart Insurance Solutions Inc. recently …

Swiss Re Places $925M Cat Bond for California Earthquake Authority

Swiss Re Capital Markets Corp. has successfully structured and placed the issuance of $925 million of insurance-linked securities for the California Earthquake Authority. Swiss Re Capital Markets underwrote the transaction through two classes of principal-at-risk variable rate notes issued by …

California Earthquake Authority Creates Online Home Vulnerability Evaluator

The California Earthquake Authority has created an online tool to help home inspection specialists evaluate a house’s vulnerability to earthquake damage. The online tool, QuakeGrade, uses information entered by an inspector and collects data about a house’s structural and geological …

California Congressmen Introduce Earthquake Mitigation Tax Incentives

A pair of Congressmen from California today introduced the Earthquake Mitigation Incentive and Tax Parity Act of 2017 to exclude incentives for residential seismic retrofits from federal taxation. The act was introduced by Reps. Mike Thompson, D-St. Helena, and Paul …

Talk Expected to Turn to Earthquakes at Tornado Summit in Oklahoma

Hundreds of top meteorologists and disaster recovery experts will converge on Oklahoma City this week for a national tornado summit, though much of the discussion is expected to focus on temblors, not twisters. The annual three-day conference in the middle …

California Earthquake Authority Promotes Coombes, Schneider

The California Earthquake Authority has named Todd Coombes chief insurance and technology officer. The CEA also named Kellie Schneider chief operations officer. The moves follow the retirement at the end of January of Bob Stewart, the chief operations officer. The …

Research Shows California Homeowners Lack Understanding of Retrofitting

A new study on California homowners shows a general awareness of earthquakes and other natural hazards, but that those owners did not necessarily take action to mitigate risks, and many didn’t know whether their home had been retrofitted. Results of …

California Homeowner Registration Starts for 2017 Brace + Bolt Program

The 2017 Earthquake Brace + Bolt program opened registration this week for $6 million in grants for seismic retrofits. This represents a 25 percent increase in funding over last year to help California homeowners protect their families and secure their …

Northridge Quake Anniversary Prompts Reminders For California Residents

The California Earthquake Authority put out a notice reminding residents in the state that Tuesday marks the 23rd anniversary of the 1994 Northridge earthquake. The magnitude-6.7 shake that widespread damage to freeways, office buildings and homes. The cost to rebuild …