‘Million Dollar Listing Los Angeles’ star Josh Flagg discusses evacuating Los Angeles amid flames on ‘The Clams Countdown’.
California’s state insurance regulator on Friday announced a one-year moratorium on canceling homeowners’ insurance policies in the areas of Southern California that were affected this week. devastating wildfire,
The California Department of Insurance (CDI) announced that a mandatory one-year moratorium will prevent insurers from canceling or not renewing policies of homeowners in specific areas affected by the Palisades and Eaton wildfires. los angeles area,
The moratorium applies to all homeowners, condo unit owners, mobile home homeowners or residential renters insurance policies in specified ZIP codes. This includes cancellation and non-renewal due to wildfire risk.
As of Friday, the fire has destroyed more than 10,000 homes, buildings and other structures, according to local officials. At least 10 people have died in the fire. The Kenneth, Hurst and Lydia fires, as well as the Palisades and Eaton fires, have collectively burned more than 27,000 acres in the area.
Chimneys stand amid debris after the passage of the Palisades Fire on Wednesday in Pacific Palisades, California. (Augustin Polier/AFP via Getty Images/Getty Images)
“My heart goes out to my fellow Angelenos. Our top priority is protecting Californians during this crisis and helping us recover,” California Insurance Commissioner Ricardo Lara said in a statement. “I am using my moratorium powers to stop the insurance companies Canceling or not renewing policies in areas affected by wildfires, so that people do not have to face the added stress of finding new insurance during this catastrophic event.”
“I am working on all fronts to ensure that bushfire victims get the benefits they deserve and get them as quickly as possible,” Lara said.
Help those affected by the California wildfires here
Plumes of smoke were seen as a wildfire raged in Pacific Palisades, California on Tuesday. (David Swanson/AFP via Getty Images/Getty Images)
CDI has also issued a notice and summoned insurance company To prevent pending non-renewal or cancellation for any properties near wildfire if they are not already protected by the moratorium. This notice applies to non-renewals or cancellations that were issued more than 90 days before January 7, when the wildfire outbreak began, but took effect after the wildfire began.
The moratorium on non-renewal and cancellation of policies will remain in place for six months as communities begin the recovery process. Lara also called on insurers to offer policyholders in immediately affected wildfire areas a grace period of more than 60 days under existing law to pay their home insurance premiums, as those areas face multiple challenges. Have to do it.
Fox Business contacted CDI regarding the postponement and notice.
California wildfires could cost insurers $20B, the most in state history
Khaled Fouad, left, and Mimi Laine inspect a family member’s property in Altadena, California, which was destroyed by the Eaton Fire on Thursday. (Justin Sullivan/Getty Images/Getty Images)
ZIP codes covered by the moratorium for the Palisades Fire include 90049, 90265, 90272, 90290, 90402, 91301, 91302, 91320, 91356, 91361, 91364, and 91436.
Eaton Fire ZIP codes subject to the moratorium include 91001, 91006, 91007, 91011, 91016, 91020, 91024, 91042, 91101, 91103, 91104, 91106, 91107, 91108. 91206, 91208, 91214, 91706, 91731, 91732, 91775, 91780 and 93563.
area residents can go Insurance Department website To see if their zip code is included in the moratorium.
CDI said the agency may submit a supplemental bulletin if additional ZIP codes are determined to be within or near the fire perimeter subject to the state of emergency declared by the governor for Los Angeles and Ventura counties.
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Lara also announced free two-day insurance assistance workshops for all those affected by the wildfires, which will be held on January 18 and 19 in Santa Monica and January 25 and 26 in Pasadena to provide survivors with information about their insurance policies. And to help you understand the claims process. Also provide information about the rebuild and recovery process.
