Latest Earthquakeauthority Headlines
All the headlines from our Earthquakeauthority Topic Page, ordered by recency.
California Earthquake Authority Selling Debt to Avoid Paying More for Coverage
Jul 9 2024 // A state-managed earthquake insurer for homeowners in California is opting to borrow from the public debt market in lieu of paying for additional coverage that would shield it against risks. The California Earthquake...
People Moves: California Earthquake Authority Governing Board Appoints New CEO
Jun 28 2024 // Tom Welsh The Governing Board of the California Earthquake Authority (CEA) named Tom Welsh CEO. Welsh was the chief legal and compliance officer. He has served as the interim CEO since January. He joined the CEA in 2019 as...
People Moves: Former California Earthquake Authority CEO Pomeroy Joins GeoVera
Jan 26 2024 // Glenn Pomeroy, former CEO of the California Earthquake Authority (CEA), joined GeoVera as executive vice president of marketing and regulatory affairs effective February 1. GeoVera is headquartered in Fairfield,...
AM Best Downgrades California Earthquake Authority Credit Ratings
Jan 18 2023 // 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...
Fitch Rates California Earthquake Authority’s New Revenue Bonds ‘A-‘
Sep 15 2022 // 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...
Fitch Downgrades California Earthquake Authority’s Ratings; Outlook Stable
Apr 1 2022 // 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...
Swiss Re Capital Markets Places $775M Cat Bond for California Earthquake Authority
Oct 23 2020 // 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...
Updated Residential Earthquake Damage Guidelines for California Released
Jun 9 2020 // 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...
California Earthquake Authority Named Administrator of Wildfire Fund
Apr 29 2020 // The California Catastrophe Response Council, which oversees the Wildfire Fund, has formally named the California Earthquake Authority the fund’s administrator. The Wildfire Fund was established by the California...
California Earthquake Authority Policy Sales Spiked After Ridgecrest Quakes
Aug 28 2019 // 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...
California Earthquake Authority Board Expands Policyholder Eligibility for Retrofit Grants
Jul 22 2019 // 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...
California Regulators Seek to Curb Misinformation About Earthquake Insurance
Jul 12 2019 // The recent earthquakes that pummeled neighborhoods in Ridgecrest and Trona in Southern California have led to reports that some insurers and agents may be declining to write earthquake policies in various areas of the...
Southern California Quakes Push Interest in Coverage
Jul 9 2019 // 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...
California Lawmakers Advance Resilient Homes Initiative
Apr 25 2019 // 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...
Techquake: The Biggest Threat to California’s Tech-Sector May Lie Directly Beneath its Feet
Apr 23 2019 // California’s technology sector has had a tough year with state and federal policymakers, to say nothing of the general public. Concerns about the size and scope of internet firms have led to a “techlash,”...
California Earthquake Authority Board Votes to Sponsor Resilient Homes Initiative
Apr 15 2019 // The California Earthquake Authority’s governing board has voted to sponsor and support the Resilient Homes Initiative, a bill aimed at helping Californians prepare for earthquakes by restructuring the CEA to...
California Lawmaker Introduces Resilient Homes Initiative
Apr 2 2019 // A bill to that would enable the California Earthquake Authority to expand mitigation programs is making its way through state Legislature. State Sen. Majority Leader Bob Hertzberg, D-Van Nuys, this week released the...
California OKs $16.3M Rate Reduction for Earthquake Policyholders
Nov 29 2018 // California Insurance Commissioner Dave Jones has approved a rate reduction for California Earthquake Authority residential earthquake policyholders that he says will bring millions of dollars in premium savings for 10s of...
ShakeOut an Opportunity to Sell Earthquake Policies in California and Beyond
Oct 16 2018 // Millions of people are expected to drop, cover and hold on at 10:18 a.m. PST on Thursday, which should be a good opportunity for insurance agents to try and sell some policies, according to the head of the California...
Insurtech Jumpstart Rolls out Parametric Earthquake Product for Californians
Oct 15 2018 // A firm that wants to make a name for itself as the first parametric insurtech in the U.S. for earthquakes has officially launched in California, over a year after its anticipated original launch date. Jumpstart Insurance...
