Insurance commissioner prohibits policy cancellations for fire victims but...

[quaint]

LATimes

California Insurance Commissioner Ricardo Lara has barred insurance companies from canceling residential coverage of some 750,000 policyholders affected by the Airport, Bridge and Line fires.

The order issued Thursday protects residents within the fire zones or adjoining ZIP Codes from insurance non-renewals or cancellations for one year from the date of emergency declarations Gov. Gavin Newsom issued this month.

Lara’s action comes as he seeks to enact his Sustainable Insurance Strategy, a package of executive actions intended to stabilize the California insurance market amid the growing number of wildfires, which have been attributed to climate change.

Lara’s reforms have been controversial, with a leading consumer group saying they include giveaways to the insurance industry, which he disputes.

‘I own this now’: CA Insurance Commissioner discusses insurance crisis, reforms yahoo news

[jimfields33]

1. Should have put a limit on how high premium can go up as well

The insurance companies will say fine, your renewal will go from 3 grand a year to 7 grand. It’s happened in other states that way.

[quaint]

2. Too true. And everything he does tells me he supports them, his rhetoric aside.

[usonian]

3. Insurance Commish and PUC are handing massive giveawsys to companies.

Serving whom?

[quaint]

4. Serving himself and insurance company executives, of course!