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FOR IMMEDIATE RELEASE February 7, 2012 Contact: D Anne Ousley Phone: (916) 325-3845 ousleyd calquake.com California Earthquake Authority strengthens CAT Bond Program with completion of second reinsurance.

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The other option for buying earthquake insurance in California is to purchase a standalone policy through a private insurance company.

Our public mission is to help Californians prepare for and recover from damaging earthquakes through education, mitigation and insurance. CEA insures over one million households and writes two-thirds of all residential earthquake policies sold in California.

This includes protection for furniture, appliances, clothing, sporting goods and electronics that are damaged or destroyed in the event of a major earthquake. Household items damaged by a major earthquake may be repaired or replaced under this coverage.

Earthquake insurance may exclude certain items, such as your vehicles, fence, pool and collectible items in your home. Damage to your land, such as landscaping, is also usually not covered. However, some policies include "engineering cost" options, which would cover these items.

There are three common types of triggers for a CAT bond: indemnity, industry loss, and parametric. Indemnity triggers base CAT bond payouts on the actual insurance losses experienced by the issuer, and function similarly to traditional reinsurance.

It applies to your dwelling coverage and is subject to the dwelling deductible. Covers earthquake damage to your home and structures attached to it, like your garage. Your home is covered up to the Dwelling's insured value on your homeowners insurance policy.

A catastrophe bond (CAT) is a high-yield debt instrument designed to raise money for companies in the insurance industry in the event of a natural disaster. A CAT bond allows the issuer to receive payment only if specific events—such as an earthquake or tornado—occur.

Traditional earthquake insurance covers damage caused by an earthquake by insuring “pure loss.” That means they will assess the value of the items lost and reimburse you for that specific amount – this amount will be different for different people.

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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Content Takedown Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232