Will the California Earthquake Authority Be Able To Pay Claims When an Earthquake Hits?
Quick facts about the financial strength of the California Earthquake Authority:
- Over $11 billion in claim-paying ability.
- Rated as A– (Excellent) since 2002 by A.M. Best Company.
- Largest provider of residential earthquake insurance in the U.S.
- Writes 76 percent of all residential earthquake policies sold in California.
- More than 860,000 policies in force.
- CEA is a not-for-profit and does not pay federal income tax so the financial reserves grow more quickly.
- CEA assets can’t be used for any state government purposes, such as repairing bridges and freeways.
Curious to see what hazards exist near your home? Simply enter your address at this California Emergency Management Agent website at http://myhazards.calema.ca.gov
*Written by Mark Harvey, Personal Lines Account Manager