California official bans insurance cancellations, nonrenewals in wildfire-affected areas
“I am using my moratorium powers to prevent insurance companies from canceling or non-renewing policies in wildfire-impacted areas, so people don’t face the added stress of finding new insurance during this horrific event,” the state’s Insurance Commissioner Ricardo Lara said in a statement Thursday.
“I am working on all fronts to make sure wildfire victims get the benefits they are entitled to, and they get it as soon as possible.”
The mandate prevents insurers from cancelling or refusing to renew policies for properties located in any ZIP code within or adjacent to the fire perimeter.
https://thehill.com/homenews/state-watch/5079152-california-wildfires-insurance/
#J316FGSLTWTHGHOBSTWBOHSNPBHEL
Cool. Now do Oregon!
This will bankrupt the insurance companies. I’ve long believed that entire industry will disappear. My brother and SIL live in Cali, have Allstate, had a flood under their foundation while on vacay in 2024. Allstate would not pay or even accept a claim. Other insurance stories are the same. They simply don’t pay. Why would we pay them?
wego.social/DownScale | https://truthsocial.com/@downscale
Such a crazy scam. Just the idea that they spend millions and millions of dollars to ADVERTISE, and then won't pay out? What a bunch of scumbags.
