Agency Is Writing Earthquake Insurance
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With some of the state’s major insurers turning away applicants for homeowners and earthquake coverage, a Thousand Oaks agency that represents relatively small CalFarm Insurance Co. says it’s welcoming all the residential business it can get.
“We had very little exposure to losses from the January earthquake, so we’re in better shape than many of our large competitors,” says E. James Anderson, owner of the CalFarm agency that serves Ventura County and the San Fernando Valley.
As word has circulated that he’s writing policies on all qualified properties, his business thus far this year has increased 200% over the same period last year, Anderson said.
“We’ve covered lots of people who were turned down by others,” he said. “We’ve also done quite a few ‘rapid escrow’ policies, saving sales that were being held up because no insurance was available.”
CalFarm, the state’s 31st largest home insurer, is based in Sacramento. The company is a subsidiary of Woodland Hills-based Zenith National Insurance Corp.
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