State insurance chief blocks insurers for a year from dropping homeowner policies near Kincade fire
It protects 140,000 policyholders living close to the Kincade fire that sparked in north
For the first time,
Lara's drastic move shields more than 800,000 home policyholders statewide, while insurers continue to drop property coverage in the state's most fire-prone communities.
Lara's action to interfere with the private insurance marketplace is incredibly rare even nationwide.
The only notable similar example is after Hurricane Andrew struck
Regionally, residents in 29 ZIP codes around the Kincade fire area in
They are residents of
To select the areas included in his one-year home insurance cancellation moratorium, Lara and his staff worked with
Lara's order applies to homeowners and renters, and would rescind any property insurance cancellation notices insurers issued since
Additionally, the insurance commissioner urged insurers to voluntarily not drop any homeowner policies statewide because of wildfire risks until
The insurance commissioner's tactic is a precursor to an expected legislative battle next year in
"This wildfire insurance crisis has been years in the making, but it is an emergency we must deal with now if we are going to keep the
For years, the homeowner insurance business in
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