“Million Dollar Listing Los Angeles” star Josh Flagg spoke on “The Craman Countdown” about evacuating Los Angeles during the fires.
California insurance regulators on Friday announced a one-year moratorium on homeowner insurance policy cancellations in Southern California areas affected by this week's devastating wildfires.
The California Department of Insurance (CDI) has issued a one-year mandatory moratorium that will allow insurance companies to cancel or renew insurance policies for homeowners in certain areas affected by the Palisades and Eaton wildfires in the Los Angeles area. He announced that he would no longer be able to do anything.
This suspension applies to the insurance policies of all homeowners, condo owners, mobile home owners, or residential renters in the designated zip codes. Cancellations and non-renewals due to wildfire risk are also covered.
As of Friday, the fire had destroyed more than 10,000 homes, buildings and other structures, local officials said. At least 10 people died in the fire. The Kenneth Fire, Hearst Fire, Lydia Fire, Palisades Fire, and Eaton Fire combined to burn more than 27,000 acres in the region.
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Chimneys stand amidst the rubble after the Palisades Fire passes through on Wednesday in Pacific Palisades, California. (Agustin Paullier/AFP via Getty Images/Getty Images)
“Our hearts go out to our fellow Angelenos. Our top priority is to protect Californians during this crisis and support their recovery,” California Insurance Commissioner Ricardo Lara said in a statement. said. “I will use my suspension powers to prevent insurance companies from canceling or non-renewing policies in areas affected by the bushfires, and to help people find new insurance during this horrific event. I don't want to face that additional stress.”
“I am working on all fronts to ensure that bushfire victims receive the rights they deserve and as soon as possible,” Lara added.
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Plumes of smoke can be seen as a wildfire burns in California's Pacific Palisades on Tuesday. (David Swanson/AFP via Getty Images/Getty Images)
CDI also issued a notice to insurers asking them to halt pending nonrenewals and cancellations if properties located near wildfires are not already protected by moratoriums. This notice applies to non-renewals or cancellations issued up to 90 days before the wildfire outbreak began on January 7, but will take effect after the wildfire outbreak begins.
The moratorium on policy non-renewals and cancellations will last for six months while communities begin the recovery process. Mr. Lara also encouraged policyholders in areas directly affected by wildfires to move beyond the 60-day grace period under current law, given the challenges faced by many people in those areas. He asked the insurance company to pay the premium.
FOX Business reached out to CDI about the suspension and notice.
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Khaled Fuad (left) and Mimi Lane inspect their family's property in Altadena, Calif., destroyed by the Eaton Fire on Thursday. (Justin Sullivan/Getty Images/Getty Images)
ZIP codes affected by the Palisades Fire moratorium include 90049, 90265, 90272, 90290, 90402, 91301, 91302, 91320, 91356, 91361, 91364 and 91436.
Eaton Fire ZIP codes affected by the suspension are 91001, 91006, 91007, 91011, 91016, 91020, 91024, 91042, 91101, 91103, 91104, 91106, 91107, 91108, 91206, 91208, 91214, 91706, 91731, 91732, 91775, 91780, 93563.
Local residents can easily go to Ministry of Health website Check if your postal code is included in the suspension.
CDI will submit additional bulletins if additional zip codes are determined to be within or adjacent to the fire perimeter subject to the Governor's declared state of emergency for Los Angeles and Ventura counties. He said there is a possibility.
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Mr Lara also announced a free two-day insurance support workshop for anyone affected by the bushfires. The workshops will be held in Santa Monica on January 18th and 19th and in Pasadena on January 25th and 26th to help disaster victims understand insurance policies and the claims process. It also provides information about the rebuilding and recovery process.
