California bans insurance cancellation, non-renewals in LA areas affected by fires [Video]

The state of California’s insurance regulator on Friday announced a one-year moratorium on the cancellation of homeowners insurance policies in areas of Southern California that have been affected by this week’s devastating wildfires.

The California Department of Insurance (CDI) announced that the mandatory one-year moratorium will prevent insurers from canceling or not renewing homeowners’ policies in specific areas affected by the Palisades and Eaton wildfires in the Los Angeles area. 

The moratorium applies to all homeowners, condo unit owners, mobile home homeowners or residential renters insurance policies in specified zip codes. It covers cancellations and non-renewal due to wildfire risk.

As of Friday, the fires have destroyed over 10,000 homes, buildings and other structures, according to local officials. At least 10 people have been killed by the fires. The Kenneth, Hurst and Lidia fires, along with the Palisades and Eaton fires, have collectively burned more than 27,000 acres in the area.

CALIFORNIA WILDFIRES: ESSENTIAL …