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California Earthquake Authority

BUSINESS
September 11, 1998 | LIZ PULLIAM, TIMES STAFF WRITER
Earthquake policies with a lower deductible and more extensive coverage may be available next year through the California Earthquake Authority, a state-run pool that provides most of California's earthquake insurance. Policyholders and consumer advocates have complained since the CEA's 1996 inception that the policies' 15% deductibles are too high and that its coverage is too skimpy.
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CALIFORNIA | LOCAL
March 20, 1998
The science of earthquake prediction is imprecise at best, and that's a continuing problem when it comes to setting insurance premiums for California homeowners. The high rates charged by the California Earthquake Authority have been under challenge since the day the state agency was created in 1996; now there is new scientific information that is likely to stir up that dispute even more.
BUSINESS
March 1, 2001 | LIZ PULLIAM WESTON, TIMES STAFF WRITER
The temblor that hit the Seattle area Wednesday may cause more Californians to think about buying earthquake insurance, but the 6.8-magnitude shaker shouldn't otherwise affect policies or rates here, insurance officials said.
NEWS
May 14, 1999 | VIRGINIA ELLIS, TIMES STAFF WRITER
Democrats took control of the multibillion-dollar California Earthquake Authority on Thursday, using their muscle on the governing board to outvote the lone Republican on everything from a management audit to the number of times they will meet. The authority, which has been the focus of a tug of war between Democratic state Treasurer Phil Angelides and Republican Insurance Commissioner Chuck Quackenbush, met for the first time since December.
NEWS
November 14, 1995 | KENNETH REICH, TIMES STAFF WRITER
The state's insurance industry--which is making five times more in payouts for Northridge earthquake damage than it estimated immediately after the temblor--is now rethinking its support for a proposed state earthquake insurance agency.
BUSINESS
March 22, 1997 | KENNETH REICH, TIMES STAFF WRITER
Early sales of the new state homeowners earthquake policies are below expectations, based on results at two major insurance carriers, but state officials on Friday held out hope that sales may yet pick up as the busy summer season gets underway. In most cases, the new state policies are more expensive than the old private policies and offer less coverage.
BUSINESS
August 26, 2005 | Marc Lifsher, Times Staff Writer
In an effort to get more homeowners to buy earthquake insurance, the California Earthquake Authority on Thursday proposed changes in premiums for next year that would result in an average rate reduction of 22% statewide. The reduction, which could save some policyholders hundreds of dollars a year, would be the first since 1999, when premiums were cut by 4.5%.
BUSINESS
March 20, 2011 | Kathy M. Kristof, Personal Finance
Japan's massive earthquake has created a surge of interest in quake insurance in a place more than 5,000 miles away ? California. "Earthquakes are clearly on the top of people's minds," said Glenn Pomeroy, chief executive of the California Earthquake Authority, a nonprofit group designed to make quake coverage available to any Californian who wants it. "The images coming out of Japan are surreal, and the news just keeps getting worse and...
OPINION
January 17, 2014 | By Dave Jones
Almost exactly 20 years ago, early on the morning of Jan. 17, 1994, residents of the San Fernando Valley were jolted awake by incredible shaking. Within moments, the Santa Monica Freeway - the major east-west artery in Los Angeles - came crashing down in huge sections; apartment houses pancaked, trapping and killing residents; and houses toppled off their foundations. It was no wonder. The magnitude 6.7 Northridge earthquake had just produced the strongest ground motions ever recorded in any American urban environment.
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