Insurance industry leaders have responded to Vice President Kamala Harris' claims that insurers have abandoned “many families who have been and will be harmed” by the Los Angeles wildfires, calling them “false and The group is protesting, calling the statement “wrong and dangerous.” .
“Many insurance companies are cutting off coverage for many families who have been affected and will be affected, and it is affecting their ability to make a living,” Harris said at a Thursday press conference about the ongoing fires. It will only cause delays and burdens on the government.” “Recover”:
“I think that's an important point that needs to be raised,” the vice president continued. “And I hope there's some way to address this problem, because if we don't, these families, so many people, won't have the resources to recover.” Unable to do anything in a certain way, many of them lost everything. ”
Harris' statement came on the same day as California Department of Insurance spokesperson Michael Soler's announcement. said In July, State Farm canceled a staggering 1,600 home insurance policies in the now devastated Pacific Palisades area, according to CBS News.
David Sampson, president and CEO of the American Property Casualty Insurance Association (APCIA), denied Harris' press conference. statement To Fox Business:
To even suggest that insurance companies are abandoning their customers is wrong, wrong, and dangerous, and coming from former elected officials across California who should know the law is especially disturbing. be.
Insurers are committed to protecting the safety of those affected and providing prompt relief to policyholders for covered losses.
Sampson pointed out that California law prohibits insurance companies from canceling policies during the term, except in situations such as nonpayment or fraud. “There's an implication that people are being canceled, just to make that impression.” In my opinion, scaring people is irresponsible. ”
State Farm will discontinue coverage for 72,000 California homes in 2024, leaving more than 100,000 state residents without home insurance since 2019. san francisco chronicle analysis revealed.
The Pacific Palisades Fire has burned 22,660 acres; containment After Tuesday's spark, it was 11 percent; Become According to NBC News, it is “one of the most expensive projects in state history.”
Sampson said he has been warning state regulators about California's unsustainable insurance market for years.
“For almost the last 10 years, we've been paying out $1.09 in claims for every $1 in homeowners insurance we've collected, and that's not sustainable,” he told FOX Business.
