California Insurance Commissioner Ricardo Lara has taken decisive action to protect homeowners affected by the Palisades and Eaton fires. He has utilized his authority to implement a one-year moratorium on non-renewals and cancelations of fire insurance policies.
Lara emphasized the importance of prioritizing family and health during these challenging times. He stated, 'Now is the time for you to focus on your family and your health. The last thing you should be worrying about is your insurance.'
The commissioner issued a bulletin instructing insurance companies to refrain from non-renewing or canceling policies for homeowners impacted by the recent fires. This moratorium law, which Lara helped draft during his tenure in the State Senate, aims to provide stability and support to affected individuals.
Lara also called upon insurance companies to halt any pending non-renewals and cancelations that were initiated prior to the outbreak of the fires. He emphasized that policyholders who received non-renewal notices between October 9 and January 7 should be retained by their insurers as valued customers.
In his appeal to property insurance companies, Lara urged them to prioritize the well-being of communities by pausing non-renewals and cancelations. This measure is intended to offer essential stability to consumers, allowing them to concentrate on their safety and recovery efforts.
