SACRAMENTO

Earthquake Plan: A plan to create a public fund to write earthquake insurance in California will be discussed Tuesday in a joint hearing of the House and Senate insurance committees and the Senate Judiciary Committee. Insurance Commissioner Chuck Quackenbush, who wrote the legislation, will kick off the testimony at 9:30 a.m. at the Capitol. The new entity, to be called the California Earthquake Authority, will take over the issuing of earthquake insurance, a line of business that conventional insurers have all but abandoned, citing $12 billion in losses from last year’s Northridge earthquake. The fund would be capitalized with an initial $1-billion contribution from the insurance industry. But in the event of a major earthquake, California policyholders of homeowners insurance could be at risk for surcharges on their premiums, whether or not they carry earthquake coverage or live in the affected area.