Posted on 01/10/2025 5:13:13 AM PST by eyeamok
On Thursday night, California Insurance Commissioner Ricardo Lara issued a mandatory one-year moratorium, protecting homeowners’ insurance coverage in areas affected by the Palisades and Eaton fires.
The moratorium will prohibit insurance companies from enacting non-renewals and cancellations until Jan. 7, 2026.
In a statement, Lara said this rule applies to all homeowners within the perimeters or adjoining ZIP codes of the two fires in Los Angeles County, regardless of whether they suffered a loss.
(Excerpt) Read more at ktla.com ...
I know I WOULD
It would probably be cheaper for the Insurance companies to cancel it anyway and fight it in court.
So those zip codes are protected. Guess what happens to the other zip codes in the LA Basin or the entire Southland…or all of CA?
Farmers Ins: "Okay, you can renew your policy, but the premium is now $90,000 a month."
Seems like shutting the barn door after the horse has escaped.
And everybody else across the country will now see a 30%+ increase in their homeowner’s insurance premiums to cover these losses.
What insurance is needed for houses burned to the ground?
I don’t think that will work since the insurance commissioner also has to approve any rate hikes.
This is not going to end well.
The Democrats wanted them out so they could claim there was a need for government insurance.
The problem started with the new law that capped premiums. That’s why the insurance companies stopped renewing policies and already fled the state.
EC
In theory, it should stay within the company the insurance providers set up to handle that state, so it would seem likely all California residents will have to pony up the money.
Are we sure karen Bass is a lesbian? I cannot confirm that anywhere but I could be mistaken. I know the head of the Fire Department is and some of her deputy chiefs.
The LA water wizard, Puerto Rican born, Janisse Quinones, LADWP chief executive, earning $750,000.00 a year, is not a lesbian, here is her “mission” statement:
“It’s important to me that everything we do um it’s with an equity lens and social justice and making sure that we write the wrongs that we’ve done in the past.”
[...]
WPDE TV reports that on Jan 10, 3,500 households in storm-ravaged western North Carolina may lose their temporary housing assistance from the Federal Emergency Management Agency (FEMA) unless an individual extension is granted.
FEMA officials say that nearly 13,000 households were originally eligible for the shelter assistance which provides hotel rooms for them until their homes are repaired, inspected and deemed to be inhabitable.
But with a major winter storm bearing down on the region, FEMA is reporting that nearly 3,500 households will no longer meet eligibility for the assistance due to an inspection showing their homes to be habitable, declining an inspection or FEMA officials being unable to contact the applicant despite multiple attempts.
Storm victims who had been housed in hotel rooms under TSA, were notified starting on Jan 3 that they may no longer be eligible for the program.
Residents were urged to stay in touch with FEMA officials and to provide regular updates on their housing status and contact information in order to maintain eligibility.
The apparent disparity between the Biden administration’s limitless generosity toward Ukraine and its more tight-fisted approach to providing help for American citizens in harm’s way is sparking outrage in western North Carolina as well as in Washington D.C.
[...]
She is guaranteeing that more Insurance companies will leave the State of California.
And here is the main reason the Insurance companies have been cancelling policies and Leaving the State. When the Government MANDATES policies intended to Bankrupt your company, why would you stay here? I suspect a lot of them are goint to pack up their offices today and MOVE OUT OF STATE and shut down all their business in the State.
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it’s the Liberal mindset - to hell with tomorrow if we can be dictator for a day. When the insurance industry abandons Nirvana, then what. You see it in all the third world countries that mandate private businesses into bankruptcy. Then the government takes over and tries to run the businesses and we all know how that works out.
The insurance policies will just not be renewed. There is no governmental capability for forcing a company to engage is business.
While the cases drag on in the courts, the home and business owners and now, the automobile owners will just be uninsured.
Actuarily, there is no point of being in the insurance business in California. The normal climate condition present over thousands of years has returned. The California desert is reclaiming LA
My brother in law is in one of the qualifying areas.
His house hasn’t burned...yet. (as of last night)
The same government bureaucrats that put the policyholders at risk are now mandating the insurers cover the risk.
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