Central Los Angeles : No Quake Insurance for L.A. Coliseum

It cost $100 million to repair and seismically reinforce the Los Angeles Memorial Coliseum after the Northridge earthquake, but on Wednesday the manager of the Coliseum and Sports Arena complex, Pat Lynch, disclosed that no one is willing to sell quake insurance for the stadium.

Lynch said that one insurance company is willing to sell $5 million worth of coverage on the Sports Arena for one year for $250,000, but $6.5 million in damage would be required to satisfy a 10% deductible. Lynch and the Coliseum commissioners decided this is too much, so neither the Sports Arena nor the Coliseum will be quake-insured. However, a spokesman for the Forum said the indoor arena has insurance “for a minimum amount.”