CEA appoints Tom Welsh as its new CEO

The Board of Directors of the California Earthquake Authority (CEA), California’s largest residential earthquake insurance provider, has appointed Tom Welch, currently Chief Legal and Compliance Officer, as its new Chief Executive Officer (CEO), effective immediately.

The CEA is governed by a five-member Board of Directors consisting of voting members Governor Gavin Newsom, Insurance Commissioner Ricardo Lara, and Treasurer Fiona Ma, along with Assembly Speaker Robert Rivas and Senate Rules Committee Chairman Mike McGuire as ex-officio non-voting members.

This appointment is consistent with the Board's decision to signal a new chapter for CEA focused on sustainability, excellence in earthquake preparedness and insurance capabilities, and enhanced collaboration among stakeholders.

Welch has served as interim CEO since January 2024 and brings decades of leadership experience. Over the years, he has had a significant impact on the organization's development, and through his experience has helped navigate the insurance regulatory and legislative landscape.

“Under Tom’s strategic direction, the California Earthquake Commission has transformed from a front-line provider of earthquake insurance to a major leader in disaster recovery through innovative programs like its home ‘Brace + Bolt,’” commented Ricardo Lara, Insurance Commissioner, Vice President of Insurance Designate. Mitigation Program and California Wildfire Fund.”

“His vision and decades of experience make him the clear choice to lead CEA and continue to expand its critical role in protecting and preparing Californians for the future,” said Commissioner Michael Martinez, who chaired the Board’s Executive Search Committee.

Welch officially joined CEA in 2019 as general counsel, however, he has been with the company since the mid-1990s when the governor and legislature created CEA to resolve the homeowners insurance crisis caused by the 1994 Northridge earthquake.

Welch contributed his insurance regulatory and restructuring expertise during the extensive and complex legislative deliberation process that ultimately established the CEA as a vital component of California's residential property insurance market. Over the next 20 years, he continued to serve CEA as outside counsel on a variety of complex legal, compliance and policy initiatives.

Prior to joining CEA, he was a partner at the global law firm Orrick, Herrington & Sutcliffe LLP, and was the longtime managing partner of Orrick's Sacramento office.

For 28 years, Welch served as outside counsel to the Insurance Commissioner's Office of Preservation and Liquidation, where he assisted the Commissioner and his administration in protecting consumers harmed by the failure of numerous multi-billion-dollar life, property and casualty, and workers' compensation insurance companies. .

Gayle Miller, Chairman of the CEA Board of Directors, commented: “We are thrilled to have Tom lead CEA as our new CEO. Tom's deep knowledge of our organization, stakeholders and industry, combined with a forward-thinking mindset, make him the ideal leader to move our organization forward. This is a new chapter Bold for CEA, we are confident in Tom's ability to inspire our team and stakeholders.

“I am honored to take on the role of CEO at CEA, an organization to which I have passionately contributed for many years,” Welch concluded.

“Through our dedicated employees and collaborative stakeholders, we will build on our strong foundation, champion forward-thinking policies, and create lasting value. This is a pivotal moment for CEA, and I am excited for the journey ahead.”

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