AM Best downgraded the Financial Strength Rating (FSR) to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” (Good) from “a-” (Excellent) of California Earthquake Authority. The outlook of the Long-Term ICR has been …
Fitch Ratings assigned an ‘A-‘ rating to the $500 million revenue bond issuance by The California Earthquake Authority. According to the rating agency, the CEA’s ratings reflect a risk transfer strategy that will set its minimum and maximum aggregate claims-paying …
Fitch Ratings downgraded California Earthquake Authority’s Issuer Default Rating and revenue bond ratings to ‘A-‘ from ‘A’. The Rating Outlook is Stable. The rating action follows the vote of the CEA’s Governing Board to reduce the target claims paying capacity …
California’s Earthquake Brace + Bolt grant program is expanding, and it now includes 395 ZIP Codes where qualifying homeowners can get up to $3,000 to offset the cost of completing a seismic retrofit, the California Earthquake Authority announced. The program …
Swiss Re Capital Markets has successfully structured and placed the issuance of USD $775 million of insurance-linked securities by Ursa Re II Ltd. to be used for the protection of the California Earthquake Authority. CEA reports more than 1 million …
The California Earthquake Authority today released updated guidelines for identifying, evaluating and repairing residential earthquake damage were The guidelines were updated at CEA’s annual claim manager meeting. Experts from CEA and the Applied Technology Council presented the new CEA-ATC publication …
The California Earthquake Authority gained 23,861 earthquake insurance policies following the magnitude 6.4 and 7.1 earthquakes and aftershocks that struck on unnamed faults near Ridgecrest beginning on the July 4 holiday. That’s the second-largest monthly net increase in the 23-year …
The governing board of the California Earthquake Authority has voted to increase the number of policyholders eligible for a $3,000 retrofit grant. The CEA board voted to make the grant available to roughly 30,000 CEA policyholders as part of CEA’s …
Visits to the California Earthquake Authority website reportedly increased by nearly 10 times normal following the largest earthquakes to hit Southern California in 20 years. The quakes over 4th of July holiday weekend were big. A 6.4 magnitude occurring on …
A bill to enable the California Earthquake Authority to expand mitigation programs cleared its first hurdle this week when it passed the Senate Insurance Committee. The Resilient Homes Initiative, Senate Bill 254, was authored and introduced in earlier this month …
