Latest From This Author
Victor Joseph, president of Mercury Insurance, says there are lessons to be learned for L.A. from the rebuilding of Paradise following its destruction in the 2018 Camp fire.
Chubb expects that its losses from the L.A. County fires will total $1.5 billion, making the Swiss company the first major insurer to release such a figure.
A.B. 238, which would make it easy for victims of the Los Angeles County wildfires to get mortgage relief, will proceed despite voluntary agreements Gov. Newsom reached with hundreds of lenders.
Some policyholders who suffered total losses in L.A. fires are not getting claims advances for their living expenses and loss of contents as required, Insurance Commissioner Ricardo Lara alleged Thursday.
Gov. Gavin Newsom announced that 270 state-chartered banks, credit unions, and others will provide mortgage relief for property owners affected by the Los Angeles wildfires.
California’s Fair Plan, the state’s insurer of last resort, may be unable to pay billions in claims arising from the Los Angeles fires and may require a bailout that could ultimately be paid by homeowners statewide.
State Farm, California’s largest home insurer, said Thursday it will offer renewals to all of its 250,000 L.A. County residential policyholders slated to have been dropped, not just those in fire ravaged neighborhoods
Weiss Ratings issued a report alleging that Farmers Insurance and other California insurers reject nearly half of claims from state homeowners. Insurers have disputed the findings.
Before the devastating fires burned across Los Angeles, many homeowners learned they were losing their insurance policies. Some faced big increases in premiums that they couldn’t afford.
Insurance Commissioner Ricardo Lara has issued a one-year moratorium on home policy non-renewals and cancellations in the Pacific Palisades and the San Gabriel Valley’s Eaton fire zones.
