Los Angeles and surrounding wildfire-hit regions are shielded by a new one-year moratorium on insurance non-renewals, according to California’s insurance commissioner, Ricardo Lara, who announced the year-long freeze on Jan. 9.
“I am using my moratorium powers to prevent insurance companies from canceling or non-renewing policies in wildfire-impacted areas, so people don’t face the added stress of finding new insurance during this horrific event,” Lara said in a statement.
The one-year moratorium on policy non-renewals and cancellations protects residents in and near the ZIP codes affected by the Palisades and Eaton fires in Los Angeles County, regardless of whether the properties sustained damage, according to Lara….