Earthquakeauthority News

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California Earthquake Authority Selling Debt to Avoid Paying More for Coverage

Jul 9 2024 // A state-managed earthquake insurer for homeowners in California is opting to borrow from the public debt market in lieu of paying for additional coverage that would shield it against risks. The California Earthquake...

People Moves: California Earthquake Authority Governing Board Appoints New CEO

Jun 28 2024 // Tom Welsh The Governing Board of the California Earthquake Authority (CEA) named Tom Welsh CEO. Welsh was the chief legal and compliance officer. He has served as the interim CEO since January. He joined the CEA in 2019 as...

People Moves: Former California Earthquake Authority CEO Pomeroy Joins GeoVera

Jan 26 2024 // Glenn Pomeroy, former CEO of the California Earthquake Authority (CEA), joined GeoVera as executive vice president of marketing and regulatory affairs effective February 1. GeoVera is headquartered in Fairfield,...

AM Best Downgrades California Earthquake Authority Credit Ratings

Jan 18 2023 // AM Best downgraded the Financial Strength Rating (FSR) to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” (Good) from “a-” (Excellent) of California...

Fitch Rates California Earthquake Authority’s New Revenue Bonds ‘A-‘

Sep 15 2022 // Fitch Ratings assigned an ‘A-‘ rating to the $500 million revenue bond issuance by The California Earthquake Authority. According to the rating agency, the CEA’s ratings reflect a risk transfer strategy...