California Earthquake Authority July 2010. Glenn Pomeroy Chief Executive Officer. California. 99% chance of a major earthquake (M6.7) within the next 30 years. Majority of Californians live within 20 miles of a major fault. CEA Today….
Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.
California Earthquake Authority
Chief Executive Officer
Current Financial Structure
Participating Insurer Assessments
Claims Paying Capacity
1-in-545 year event
Only 12% of residents with homeowners insurance have earthquake coverage. coverage.
Barriers to purchasing EQ insurance
More than 40% of CEA policyholder premiums spent on reinsurance
1997-2009: Total policyholder premiums $6 billion
Spent on reinsurance
Capital $2.4 billion
Reinsurance claims paid:
*Expenses $1.1 billion
COGA allows future CEA growth