California Earthquake Authority's Innovative Financial Transactions Receive International Recognition (Web Page)
SACRAMENTO, Calif. – At the fourth annual Trading Risk Awards ceremony in London, the California Earthquake Authority (CEA) was honored for excellence in innovative financial transactions. Acknowledging the CEA’s original approach to financing its insurance risk, an independent panel of industry experts awarded the CEA the award for Sponsor of the Year. The Sponsor of the Year award honors ongoing insurance-linked securities issuance…
Governing Board for California Earthquake Authority (CEA) (Web Page)
The Governing Board of CEA governs and conducts the affairs of CEA’s residential property earthquake insurance business in California. It is made up of five elected officials and meets at least four times a year. All meetings are open to the public. Governing Board Members Governor (voting member) Gavin Newsom State Treasurer (voting member) Fiona Ma Insurance Commissioner (voting member) Ricardo Lara Speaker of the Assembly (…
CEA Joins Webinar Addressing How to Help Prevent Earthquake Related Financial Loss (Web Page)
Residential earthquake damage can be expensive and inconvenient. However, you can prepare ahead of time to help minimize the financial impacts to your family by strengthening and protecting your house. During September’s National Preparedness Month, CEA joined our partners, the Earthquake Country Alliance (ECA), to educate Californians about how to effectively minimize financial hardship caused by a major seismic event. It was a lively webinar,…
Lessons for Californians from the Earthquake in Japan (Web Page)
SACRAMENTO – The tragic tsunamis and Magnitude 8.9 earthquake that have struck Japan – the 5th largest quake in the world since 1900 – are a stark reminder: earthquakes can happen any time and it’s essential to prepare, not just for the quake but for what happens after. “Preparing for earthquakes is critical, not just in California but in all the other seismic regions throughout the United States,” Glenn…
Earthquake scenario reveals extensive damage to Bay Area homes (Web Page)
(SACRAMENTO) A new earthquake scenario developed by the U.S. Geological Survey (USGS), with contributions from partners, including the California Earthquake Authority (CEA), reveals that more than a million San Francisco Bay Area residents would face extensive damage to their homes after a major earthquake on the Hayward Fault. These and other findings of the HayWired earthquake scenario were released today and will be discussed later this…
Kroll Bond Rating Agency Affirms California Earthquake Authority LTCR at 'A+'; Outlook Stable (Web Page)
New York (September 14, 2023) KBRA affirms the A+ long-term credit rating (LTCR) for the California Earthquake Authority's (CEA) Series 2022A Revenue Bonds. The Outlook is Stable. Key Credit Considerations The rating on the revenue bonds is based on KBRA's assessment of the CEA's financial strength as an essential earthquake insurance provider in the state of California as well as key structural aspects of the bonds. As of June…
Five-year anniversary of La Habra earthquake is a reminder to get prepared (Web Page)
(SACRAMENTO) Five years ago today, a magnitude 5.1 earthquake struck on the Puente Hills fault in La Habra and produced shaking felt across several Southern California counties. More than a hundred aftershocks followed during the next few days, including a magnitude 4.1 quake just a few miles away. The 2014 La Habra quake delivered a reminder to Southern Californians that even moderate earthquakes can cause damage—in this case, power outages,…
What CEA Has to Say About New Earthquake Research Results (Web Page)
Today, the U.S. Geological Survey (USGS) released a new long-term earthquake forecast for California called "UCERF3." The California Earthquake Authority (CEA), a not-for-profit provider of earthquake insurance for California residential property—and a significant financial supporter of this research—will use these results to evaluate insurance-coverage options it offers and the rates it charges its policyholders. "Delivering…
CEA's First-Ever Public Forum/Listening Session is a Hit (Web Page)
CEA was pleased to welcome more than 150 people to its first-ever Public Forum/Listening Session. The online meeting allowed participants to share their thoughts and suggestions as CEA faces a crossroad on how to strike a balance between providing valuable earthquake insurance coverage at a relatively stable rate, while having the financial strength to pay policyholder claims in the wake of a catastrophic event. To allow for broader audience…
Inspection Professionals (IP) | CEA (Web Page)
CEA offers policyholders a Hazard Reduction Discount (HRD) (PDF) if their house was built prior to 1980 and meets certain qualifications identified in the Dwelling Retrofit Verification (DRV) (PDF) form. YOU are the key to helping homeowners provide the DRV form to their insurance agent when applying for the HRD. The DRV provides a checklist for California licensed…