Insurance commissioner issues moratorium on home policy cancellations in fire zones

[In It to Win It]

https://www.yahoo.com/news/insurance-commissioner-issues-moratorium-home-200717763.html

California Insurance Commissioner Ricardo Lara has issued a moratorium that bars insurers from canceling or non-renewing home policies in the Pacific Palisades and the San Gabriel Valley's Eaton fire zones.

The moratorium, issued Thursday, protects homeowners living within the perimeter of the fire and in adjoining ZIP codes from losing their policies for one year, starting from when Gov. Gavin Newsom declared a state of emergency on Wednesday.

The moratoriums, provided for under state law, are typically issued after large fires and apply to all policyholders regardless of whether they have suffered a loss.

Lara also urged insurers to pause for six months any pending non-renewals or cancellations that were issued up to 90 days before Jan. 7 that were to take effect after the start of the fires — something he does not have authority to prohibit.

[FirstLight]

1. Interesting, I swear the opposite happened here after our big fire

There was a moratorium on them writing new policies for I think 6 months or a year...

Or maybe that's standard after a big fire is that no new policies can be written? I don't know

[MichMan]

2. What if homeowners want to cancel?

California Insurance Commissioner Ricardo Lara has issued a moratorium that bars insurers from canceling or non-renewing home policies in the Pacific Palisades and the San Gabriel Valley's Eaton fire zones.