earthquake insurance News

Insurance Consumer Advice for Buyers of High-Risk Homes: Liz Weston

When house hunting, the price of homeowners insurance probably isn’t top of mind. But homes with hidden risks can make getting coverage difficult, expensive or both. Learning how to identify them could save a homeowner a bundle. This could be …

Earthquake Hits Croatia, a Month After Another Tremor Causes Damages of $6B

An earthquake rattled Croatia’s capital, a month after a stronger tremor left Zagreb in need of $6 billion for renovation, adding to a growing list of costs as the European Union battles the coronavirus. The 3.5-magnitude temblor on Thursday was …

Nevada Officials Expect Interest in Quake Coverage to Rise

Few Nevada residents and businesses have earthquake coverage, but insurance officials said they are expecting interest to increase after the two California earthquakes that rattled the region. The magnitude 6.4 and magnitude 7.1 quakes in the Southern California desert last …

Insurance Department: Uptake of Earthquake Coverage Declines in Missouri

A new report issued by the Missouri Department of Insurance shows that earthquake insurance coverage in the highest risk areas of Missouri has dropped to just under 14 percent. According to the department, the Earthquake Insurance Market Report highlights some …

Catastrophe Insurer Palomar Announces IPO Pricing, Shares Rise 1st Day of Trading

La Jolla, Calif.-based Palomar Holdings Inc. this week announced the pricing of its initial public offering of its common stock at a price of $15 per share and in its first day of trading on Wednesday it had at one …

SIU Managers in California Rebrands as EQ One

Earthquake insurance underwriter SIU Managers is now EQ One. The new name and brand was announced on the Los Angeles firm’s 20-year anniversary. EQ One is a difference in conditions underwriter, providing earthquake and flood insurance combined with a range …

Number of Missouri Homes Insured for Earthquakes Declined from 2008 to 2017

Despite the fact that earthquakes present a significant hazard to Missourians, the number of homes insured against damage from earthquakes declined between 2008 and 2017, according to a Residential Earthquake Coverage Report released by the Missouri Department of Insurance. The …

Record Number of Californians Applied for Earthquake Retrofit Grants

The Earthquake Brace + Bolt program closed its latest registration with more than 7,500 California homeowners applying for 2,000 retrofit grants. The EBB, funded primarily by the California Earthquake Authority, closed registration on Friday. The CEA reported the turnout on …

Experts See Expanding Role for Parametric Insurance, Including for U.S. Disasters

Catastrophic losses this year due to extreme weather events have led to a growing interest in parametric insurance in the U.S., according to industry experts. Parametric coverage is also gaining traction as hazard modeling continues to improve, weather stations more …

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 …