skip to main content

Listen

Read

Watch

Schedules

Programs

Events

Give

Account

Donation Heart Ribbon

California Insurance Commissioner Calls for More Earthquake Insurance Options

Audio

Aired 4/19/09

California's Insurance Commissioner says it's time for more options for earthquake insurance. The call comes on the heels of a study that found the next "big one" is pretty much guaranteed within 30 years. From Sacramento, Marianne Russ reports.

I nsurance Commissioner Steve Poizner says eleven percent of California homeowners have earthquake insurance - down from 30 percent a decade ago.

Poizner: You know, I continue, honestly to lose sleep at night about, you know, worrying about the next earthquake.

Poizner says the cost of coverage and the high deductibles for plans offered by the California Earthquake Authority are a deterrent. He wants to create a blue ribbon commission to come up with recommendations for more affordable policies the Authority could offer.

Poizner says it's critical that more people get covered:

Poizner: When the next big one hits - and we know it's coming - you know, lots of people are going to be hurt. Now if people think the state government or the federal government is going to bail them out, they should think again.

Poizner hopes to put the commission together by the summer.

We've upgraded to a better commenting experience!
Log in with your social profile or create a Disqus account.

Please stay on topic and be as concise as possible. Leaving a comment means you agree to our Community Discussion Rules. We like civilized discourse. We don't like spam, lying, profanity, harassment or personal attacks.

comments powered by Disqus