Tag: California Earthquake Insurance

California earthquake insurance discount program unveiled

H. Cutner
Earthquake Insurance

The state has revealed a plan in the attempt to broaden tremor coverage among its property owners. Many experts feel that the next big tremor is well overdue and yet the vast majority of homeowners in San Diego County do not have the necessary California earthquake insurance to protect them in case it should actually hit. It is estimated that 85 percent of homes in that region do not have the right coverage for a quake. This week, the state’s commissioner, Dave Jones, joined others in the industry in order…

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Earthquake insurance premiums fall for some California customers

Earthquake Insurance

Some consumers in the state will find that rates are dropping so that the coverage is more affordable. Two major earthquake insurance companies in California have just announced that they will be lowering the rates that they charge for the coverage against tremors in the state. The approval was given to the insurers by the commissioner of the state on Friday. The commissioner in California, Dave Jones, made his announcement on Friday, which said that he had approved a rate reduction of 15 percent for earthquake insurance policies provided by…

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California at risk for major earthquake

S.Vagus
San Andreas Fault Line California earthquake insurance

Geologists meet in California to highlight earthquake concerns California is no stranger to earthquakes; indeed, thousands of seismic events of varying degrees happen every day in the state. Last week, concerns regarding a massive, nationwide earthquake were drummed up when more than 9 million people throughout the state participated in an earthquake drill. California insurers are well versed in the risks associated with earthquakes in the state. What has many insurers worried, however, are the risks associated with a nationwide catastrophe. The U.S. Geological Survey met with risk professionals in…

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More earthquake insurance options to be offered by CEA to state homeowners

Julie Campbell
Earthquake Insurance

Californians to have more choices to keep their properties and investments safe. The California Earthquake Authority (CEA) has announced that it will now be offering a new earthquake insurance product to residents of the state to provide them with a greater level of control over the premiums that they pay, and to give them the choice as to whether or not they would like their personal property covered. This coverage will be more accessible to homeowners by way of a new structure for deductibles. According to the CEO of the…

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Flexpoint Ford makes insurance news with acquisition of GeoVera

Insurance Industry News Deal

The private equity firm has announced the signing of a definitive agreement to purchase the insurer. Flexpoint Ford has just announced that it will be acquiring the California insurance company, GeoVera from the affiliates of Friedman Fleischer & Lowe, LLC, and Hellman & Friedman LLC. The financial details have not yet been disclosed, and the transaction is dependent on the completion of certain typical regulatory approvals and closing conditions, which should be finished by this summer. The private equity firm of Flexpoint Ford has a special focus on the healthcare…

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