Orrick, Herrington & Sutcliffe On October 15, the California DFPI and the California Business and Consumer Services Agency ordered financial institutions to report on how they handle insurance payouts to survivors of the 2025 Eaton and Palisades fires in Los Angeles. The agencies are investigating whether lenders delayed payments, failed to offer a timely appeal… Continue reading California Regulators Order Lenders to Report on LA Wildfire Insurance Payouts
Tag: California Wildfires
Insurance Claims and the LA Fires
Megan Carrasco and Richard Erickson | Snell & Wilmer Insurance has always been a critical backdrop in risk analysis. This is because when buying insurance, “an insured usually does not seek to realize a commercial advantage but, instead, seeks protection and security from economic catastrophe.”1 Insurance is in place for fundamental risk and loss but is… Continue reading Insurance Claims and the LA Fires
California’s Wildfire Dilemma: Put Houses or Forests First?
Jim Hinch | Bloomberg There is a limit to how much federal taxpayers should have to spend to fight fires and cull trees so that well-off Californians can live near hiking trails. As record-breaking fires blacken millions of acres in California and elsewhere in the West this year, politicians are mostly sticking to a standard script… Continue reading California’s Wildfire Dilemma: Put Houses or Forests First?
Now That Insurers Can’t Legally Enforce Their $5,000 Wildfire Smoke Damage Caps, What Have They Done To Make Up For Their Unanticipated Losses?
Daniel Verhoff | Property Insurance Coverage Law Blog | September 12, 2019 Many insurance companies thought they would have to pay no more than $5,000 for each California wildfire claim but are ending up paying hundreds of thousands if not millions. These companies sought to reduce their exposure to wildfire losses by capping their liability for wildfire… Continue reading Now That Insurers Can’t Legally Enforce Their $5,000 Wildfire Smoke Damage Caps, What Have They Done To Make Up For Their Unanticipated Losses?
Will Insurance Companies Fairly Adjust Claims Following Recent California Fires?
Stephanie Poll | Property Insurance Coverage Law Blog | October 12, 2017 In Northern California, more than a dozen wildfires that began on Sunday are still raging. These fires have become one of the deadliest outbreaks in the state’s history, already burning through more than 100,000 acres, destroying thousands of homes, businesses, and wineries. Growing… Continue reading Will Insurance Companies Fairly Adjust Claims Following Recent California Fires?