Legal Waves
- California Earthquake, Tsunami Warning:0 magnitude earthquake that struck off the coast of Northern California, a new concern emerges for California residents
- Risk Assessment: Insurance companies may use this event to reassess the risk of tsunamis, much like they did with wildfires, potentially impacting policyholders.
- Homeowner Concerns: California homeowners are now facing the dual threat of natural disasters and rising insurance costs.
By Samuel A. Lopez, Legal Analyst and Journalist, USA Herald
[CALIFORNIA] 1:50 PM PST – A massive 7.0 magnitude earthquake struck off the coast of Northern California, triggering tsunami warnings for areas in both California and Oregon2. The initial magnitude was measured at 6.6 but was later upgraded to 7.0 by the United States Geological Survey (USGS). A second earthquake, measuring 5.8, struck near Ferndale shortly after.
The first earthquake hit around 10:45 a.m. in Petrolia, approximately 50 miles from Eureka. The National Weather Service issued a tsunami warning along the California and Oregon coast, from Santa Cruz to the Douglas/Lane Line in Oregon.
Residents in the San Francisco Bay Area, including San Jose, received emergency alerts and text messages warning of an impending tsunami.
While no immediate damage reports have surfaced from Humboldt and Mendocino counties, the potential for significant impact remains high. This event has not only rattled the physical landscape but also the insurance landscape.
From Wildfires to Waves: The Insurance Playbook
In recent years, we’ve watched as California’s insurance industry used the increased frequency and intensity of wildfires to justify skyrocketing premiums—or outright policy cancellations. Some insurers even pulled out of high-risk regions altogether, leaving homeowners scrambling for alternatives.
