California (USA)
California Title
California Earthquake Authority (CEA)
Description California
In 1996, the California Legislature went one step further and created the California Earthquake Authority (CEA)—a not-for-profit, publicly managed, privately funded entity. Residential property insurers could offer their own earthquake insurance or become a CEA participating insurance company.
About 76 percent of California residential property insurance companies offer CEA earthquake policies. By selling our policies exclusively through these participating insurance companies, CEA has become one of the largest providers of residential earthquake insurance in the world.
News and Events California
News And Events
October 21, 2021
Around California today, people heard sirens and got alerts on their cellphones about earthquakes. But it wasn’t the Big One coming to disrupt our lives and destroy our infrastructure. It was the Great California ShakeOut, an annual test of the state’s earthquake readiness and a reminder for Californians to be prepared for a major temblor.
October 12, 2021
The major earthquakes that jolted Hawaii and Alaska over the past two days caused no major damage, but rattled nerves both locally and perhaps in California — also a famously earthquake-prone state.
October 12, 2021
Fitch Ratings has affirmed the California Earthquake Authority's (CEA) Issuer Default Rating (IDR) at 'A' and 2020 revenue bonds at 'A'. In addition, Fitch has assigned an 'F1+' rating to the $250 million of series 2021A short-term revenue bonds. The Rating Outlook is Stable.
July 22, 2021
Washington—Senators Dianne Feinstein (D-Calif.), Richard Burr (R-N.C.), Alex Padilla (D-Calif.) and Thom Tillis (R-N.C.) and Representative Mike Thompson (D-Calif.) today introduced the bipartisan, bicameral Disaster Mitigation and Tax Parity Act, a bill that would make rebates that homeowners receive for making natural disaster mitigation improvements to their homes exempt from federal taxes.
https://www.calcas.com/catastrophe-center