The California Earthquake Authority (CEA) announced it is celebrating its five-year anniversary, having recently surpassed the $1 billion milestone for cash reserves.
Back in December 1996, the CEA began providing earthquake coverage for residential property owners, condominium owners, mobile home owners and renters across California.
The CEA stated it has more than $7.2 billion available to pay claims, including $1 billion in cash reserves should an earthquake hit California.
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