California Earthquake Authority Sees Surge in New Policies Purchased (Web Page)
(SACRAMENTO) The California Earthquake Authority (CEA), the not-for-profit provider of more than 76 percent of California’s residential earthquake insurance policies, has seen a significant increase in the purchase of CEA policies so far in 2016. CEA now has more than 908,000 policies in force, an increase of about 29,000 policies in the first eight months of this year, which is nearly twice the amount of new CEA policies purchased in all…
CEA Governing Board expands policyholder eligibility for seismic retrofit grants (Web Page)
The California Earthquake Authority (CEA) Governing Board voted unanimously to offer up to a $3,000 retrofit grant, to approximately 30,000 CEA policyholders as part of CEA’s existing Brace + Bolt program. Previously, 12,000 CEA policyholders were eligible to apply for this retrofit grant, launched earlier this year. Beginning July 1, eligible CEA policyholders can receive up to a 25% discount on their CEA earthquake insurance premium when they…
CEA Ready for Policyholders Shaken by Recent Southern California Earthquake (Web Page)
(SACRAMENTO – March 29, 2014) The California Earthquake Authority (CEA) estimates that approximately 23,000 of its policyholders experienced moderate to strong shaking from the M5.1 earthquake that struck near La Habra, California last night. “CEA policyholders who believe their homes were damaged by last night’s earthquake should contact their insurance agent as soon as possible,” said CEA CEO Glenn Pomeroy. “The…
CEA's CEO is spreading the earthquake preparedness message one community at a time (Web Page)
Photo Courtesy of Jessica Weaver, Rancho Cucamonga Chamber of Commerce CEA continues to educate Californians about earthquake safety and CEA's affordable earthquake insurance options by offering presentations at events across the state. As of the end of June, CEO Glenn Pomeroy has appeared as a guest speaker at 38 community events including Rotary clubs, chambers of commerce and Realtor…
California Earthquake Authority Completes Landmark Deal, Pioneering New Way to Manage and Diversify Financial Risk Posed by Natural Disasters (Web Page)
SACRAMENTO, Calif. – The California Earthquake Authority (CEA) today said it has completed a first-of-its-kind transaction that opens a more direct path to transfer the financial risk posed by earthquakes. The transaction allows CEA to obtain reinsurance from the capital markets rather than solely from reinsurers. The initial $150 million, three-year deal – the first earthquake-only catastrophe bond issued without involvement of…
New publication guides assessment, repair of residential earthquake damage (Web Page)
(SACRAMENTO) Updated guidelines for identifying, evaluating and repairing residential earthquake damage were unveiled today at the California Earthquake Authority’s (CEA’s) annual claim manager meeting. Experts from CEA and the Applied Technology Council (ATC) presented the new CEA-ATC publication “Earthquake Damage Assessment and Repair Guidelines for Residential Wood-Frame Buildings”—a two-volume set covering…
Stakeholder Engagement Sessions | CEA (Web Page)
Continuing our commitment to stakeholder engagement and transparency in our earthquake insurance operations, the California Earthquake Authority (CEA) will host a series of stakeholder engagement sessions throughout 2024. These sessions help us gather feedback and suggestions for the benefit of CEA’s Advisory Panel and Governing Board regarding strategic initiatives that will further CEA’s mission and build on our current financial strength and…
Q: What should I know before hiring a retrofit contractor? (FAQ)
A. You can follow personal recommendations, or review advertisements or use directories or references provided online. You can also search contractors in the SEARCH FOR FEMA-TRAINED CONTRACTORS Contractor Directory on the Earthquake Brace + Bolt (EBB) website. Contractors on the EBB list have completed FEMA training for retrofits of houses with raised continuous perimeter foundations and cripple walls. But regardless of how you find your…
California Earthquake Authority's Story - Building Earthquake Resilience (Web Page)
It all started with an earthquake On January 17, 1994, a magnitude 6.7 earthquake known as the Northridge earthquake rocked California's San Fernando Valley—twenty miles northwest of downtown Los Angeles—on a fault no one even knew existed. The earthquake caused an estimated $20 billion in residential damages alone—and only half of that was covered by insurance. After the dust settled, the Northridge earthquake shook the foundation of the…
CEA’s CEO Speaks at "2018 Epicenter Summit” (Web Page)
CEA CEO Glenn Pomeroy, delivers a presentation on earthquake preparedness on Tuesday, April 10, 2018 in San Francisco, California. CEA CEO Glenn Pomeroy spoke during the “2018 Epicenter Summit” in the Presidio of San Francisco. The two-day summit, which started on April 10, served as a platform for representatives from the public, private, and non-governmental sectors across the region to…