California Insurance Commissioner Ricardo Lara's Actions Regarding Fire Victims and State Farm
California Insurance Commissioner Ricardo Lara releases list of insurance companies agreeing to give fire victims over 75% of coverage without itemized list of belongings, State Farm not included. State Farm facing scrutiny for dropping policyholders before Palisades Fire and resisting full payouts for personal property coverage. State Farm executive fired for controversial comments on Pacific Palisades homes. Lara urges insurers to pay claims promptly for wildfire survivors.
Key Points
- Insurance companies urged to pay claims promptly for wildfire survivors by California Insurance Commissioner Ricardo Lara.
- State Farm facing scrutiny for its treatment of policyholders and resistance to full payouts for personal property coverage.
Pros
- Insurance companies agreeing to provide fire victims with at least 75% coverage without requiring an itemized list of belongings.
- Efforts by California Insurance Commissioner Ricardo Lara to prompt insurers to pay claims promptly for wildfire survivors.
Cons
- State Farm not included in the list of insurers agreeing to provide over 75% coverage without itemized list of belongings.
- State Farm facing criticism for dropping policyholders before Palisades Fire and resisting full payouts for personal property coverage.