as if having your house burnt to the ground is not bad enough.
now insurance companys are cancelling policys preventing access to insurance.
http://www.insurance.ca.gov/0400-news/01...139-17.cfm
https://www.reuters.com/article/us-usa-w...SKBN1EC1DW
now insurance companys are cancelling policys preventing access to insurance.
Quote:If anyone is denied the opportunity to purchase a FAIR plan policy should contact our consumer hotline at 800-927-4357."
Quote:California Insurance Commissioner Dave Jones.
http://www.insurance.ca.gov/0400-news/01...139-17.cfm
Quote:FAIR plan ordered to cease and desist fire insurance moratorium
News: 2017 Press Release
For Release: December 14, 2017
Media Calls Only: 916-492-3566
Email Inquiries: cdipress@insurance.ca.gov
FAIR plan ordered to cease and desist fire insurance moratorium
Insurance Commissioner’s action leads FAIR to immediately lift moratorium
SACRAMENTO, Calif. — Insurance Commissioner Dave Jones issued the following statement:
"This morning I issued a cease and desist order requiring the California FAIR Plan to terminate immediately the moratorium it initiated on writing new fire insurance coverage in wildfire-impacted areas and ordering the FAIR Plan to make its fire insurance products available to all eligible Californians in keeping with its statutorily mandated purpose. I've been advised the FAIR Plan, after being notified of the cease and desist, agreed to lift its moratorium on writing new policies.
I originally took this action after receiving information that the FAIR Plan imposed a moratorium on writing new policies in current active fire zones across California. The FAIR Plan was established as the fire insurer of last resort to make certain California property owners have access to fire insurance coverage. There is no statutory allowance for the FAIR Plan to discontinue writing fire insurance policies for applicants anywhere in the state who need fire insurance coverage to protect themselves from financial loss. While the FAIR Plan is required to write coverage, any individuals or entities who attempt to commit insurance fraud by placing FAIR Plan or any other insurance coverage on damaged property to cover losses that already occurred will be investigated and prosecuted. If anyone is denied the opportunity to purchase a FAIR plan policy should contact our consumer hotline at 800-927-4357."
https://www.reuters.com/article/us-usa-w...SKBN1EC1DW
Quote:Homes in the Sierra Nevada foothills were dropped after wildfires swept through the region in recent years, and some other Northern California homes also have been cut from rosters, Jones said.
Quote:“We may see more of it,” he added in an interview. Insurers must renew fire victims’ policies once, but after that homeowners could be driven to unusual, expensive policies.
Retired firefighter Dan Nichols of Oroville, California was surprised when Liberty Mutual dropped his coverage this year, following a wildfire in the region.