Michael Brown, vice president and property department manager with Golden Bear Insurance Co. in Stockton, Calif., talked with Insurance Journal about the impacts expected from a new Los Angeles earthquake ordinance. The ordinance was passed by the L.A. City Council in October and beginning in February 2016 letters will start going out to landlords who will be asked to retrofit their buildings or prove their buildings are up to code. An estimated 15,000 properties will be impacted. Brown, who sees this as an opportunity for insurance agents and brokers to enhance relationships with affected clients, wants to know who will pay for these retrofits.
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