The Governing Board of the California Earthquake Authority (CEA), California’s largest provider of residential earthquake insurance, has appointed Tom Welsh, currently the Chief Legal & Compliance Officer, as its new Chief Executive Officer (CEO), effective immediately.
The CEA is governed by a five-member Governing Board comprised of voting members Governor Gavin Newsom, Insurance Commissioner Ricardo Lara, and Treasurer Fiona Ma, together with Assembly Speaker Robert Rivas and Senate Rules Committee Chair Mike McGuire as non-voting ex officio members.
This appointment is in line with the Board’s decision to signal a new chapter for the CEA focused on sustainability, excellence in earthquake preparedness and insurance capabilities, and strengthened stakeholder collaboration.
Welsh has served as the interim CEO since January 2024, and brings decades of leadership experience. Over the years, he has significantly influenced the organization’s evolution, and through his expertise helped in navigating the insurance regulatory and legislative landscape.
Ricardo Lara, Insurance Commissioner, designee Chief Deputy Insurance, commented, “Under Tom’s strategic guidance, the California Earthquake Authority has transformed from the frontline provider of earthquake insurance to a major disaster recovery leader through innovative programs such as its ‘Brace + Bolt’ home mitigation program and the California Wildfire Fund,”
Michael Martinez, Commissioner, who chaired the Board’s CEO Search Committee, said, “His vision and decades of experience make him the obvious choice to lead the CEA and continue expanding its critical role in protecting and preparing Californians for the future.”
Welsh joined CEA officially in 2019 as General Counsel, however, he has been working with the firm since the mid-1990s when the Governor and Legislature created the CEA to solve the homeowner’s insurance crisis brought on by the 1994 Northridge earthquake.
Welsh contributed his insurance regulatory and restructuring expertise during the extended and complex legislative deliberation process ultimately creating 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.
Before joining CEA, he was a partner at global law firm Orrick, Herrington & Sutcliffe LLP, and was the long-time Managing Partner of Orrick’s Sacramento Office.
For 28 years, Welsh has served as outside counsel to the Insurance Commissioner’s Conservation & Liquidation Office, assisting the Commissioner and his Department to protect consumers affected by the failure of several multi-billion-dollar life, property & casualty, and workers’ compensation insurers.
Gayle Miller, CEA Governing Board Chair, commented, “We are thrilled for Tom to lead the CEA as our new CEO. Tom’s deep-rooted knowledge of our organization, stakeholders, and industry, combined with a forward-thinking mindset, makes him the ideal leader to drive our organization forward. This is a bold new chapter for CEA, and we are confident in Tom’s ability to inspire our team and stakeholders.”
Welsh concluded, “I am honored to take on the role of CEO at CEA, an organization that I have passionately contributed to for many years.
“With our dedicated staff and collaborative stakeholders, we will build on our strong foundation, advocate for forward-thinking policies, and create lasting value. This is a pivotal moment for CEA, and I’m excited about the journey ahead.”
