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In wake of fires, Calif. issues 1-year moratorium on insurance cancellations
(insurancenewsnet.com)
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this post was submitted on 10 Jan 2025
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What about all the people whose policies were canceled or had fire protections removed before the fire broke out?
Home insurers saw the writing on the wall and got to work preemptively removing customer’s fire protections after the unusually dry season. Are those people just screwed? The article implies that the moratorium only counts from 1/7 onwards.
Sounds like more needs to be done.
If they bought a policy from the state FAIR plan, they'll still have some coverage.
Mind you, the FAIR plan is undercapitalized and likely to assess policyholder and/or insurers to make it up