Eli Lehrer On Earthquake Insurance In The Mercury News

by Eli Lehrer on June 1, 2011

This op-ed appeared in yesterday’s Mercury News:

Given California’s $26 billion budget deficit, it’s disheartening to find that U.S. Sens. Barbara Boxer and Dianne Feinstein have proposed a new federal law, the Earthquake Insurance Affordability Act, that could force the state to take on even more debt.

This proposal, intended to help the state’s semipublic earthquake insurer, the California Earthquake Authority, or CEA, can’t possibly work as advertised and would deepen the problems that the already strapped state would face after a big quake. Quite simply, it’s a very bad idea.

Read the rest here.

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