Fitch Ratings has affirmed the “A” rating on California Earthquake Authority’s outstanding fixed-rate revenue bonds, which mature on July 1, 2016. Fitch has also affirmed CEA’s Issuer Default Rating (IDR) at “A.” The Rating Outlook is Stable. “The ratings reflect …
The California Earthquake Authority named Todd Coombes as the CEA’s first chief information officer. Following a recommendation from consultant PricewaterhouseCoopers, CEA’s governing board approved adding a CIO to the executive team. Coombes starts June 3. Coombes, a business-technology executive with …
The business of selling earthquake insurance to homeowners may have just gotten a bit easier. The California Earthquake Authority has launched its annual “Marketing Value Program,” in which the quasi-private earthquake insurer encourages agents to sign up to receive at …
The California Earthquake Authority, the state’s quasi-private earthquake insurer, is planning to pay furlough back wages to current and former agency employees who lost salary to the policy, the Sacramento Bee is reporting. CEA told the Bee that the agency …
The California Earthquake Authority (CEA) has completed what it called a “first-of-its-kind transaction,” taking reinsurance out of the equation and opening “a more direct path” to transfer financial risks posed by earthquakes, the authority said. Embarcadero Re, a Bermuda-based special …
The second stress test of European insurers, conducted by the European Insurance and Occupational Pensions Authority (EIOPA), has confirmed “the robustness of the European insurance market and its ability to withstand severe stress scenarios,” notes the European (re)insurance federation (CEA). …
Of the many possible disasters that could befall Californians, Golden State residents fear earthquakes the most, according to a recent poll. Statewide, 57 percent of voters cite earthquakes as their greatest threat from nature, more than twice the proportion saying …
A small earthquake centered near San Francisco rattled the area hours after a ceremony was held to mark the anniversary of the 1906 earthquake and fire that destroyed much of the city. The U.S. Geological Survey says the April 18 …
U.S. Senators Dianne Feinstein and Barbara Boxer, both D-Calif., have introduced legislation to lower the cost of earthquake insurance for Californians and individuals who purchase coverage from a non-profit, state-run earthquake-insurance program. The Earthquake Insurance Affordability Act allows nonprofit insurance …
The tragic tsunamis and Magnitude 8.9 earthquake that have struck Japan – the fifth largest quake in the world since 1900 – are a stark reminder that earthquakes can happen any time and it’s essential to prepare, according to the …
