A United States Geological Survey (USGS) team has been working with researchers from Georgia Institute of Technology (GIT) to study what effect a large quake has in triggering smaller, slow moving tremors, deep along the San Andreas Fault line. It is possible that a sizeable quake far away could trigger episodes deep in the San Andreas Fault line. An earthquake is a vibration that travels through the earth’s crust. This is usually the result of movement in pieces of the earth’s surface, called tectonic plates. Other things can…
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Will The Catastrophe Obligation Guarantee Act Help Lower Earthquake Rates in California?
The Catastrophe Obligation Guarantee Act was introduced in Congress back in 2009. The bill would authorize the federal government to provide committed loan guarantees to qualified insurance companies, California Earthquake Authority being one. The CEA, commonly known as, is a non-profit catastrophe insurance company that currently insures approximately 70% of earthquake exposure for households in California. The reason this act is so important to the market and to disaster relief associations is with this guarantee the CEA will be able to lower their reinsurance thus being able to pass along…
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