Jones vows to fight industry assault on proposed solutions to protect wildfire survivors
News: 2018 Press Release
"Insurers are pulling out all the stops to defeat our efforts to provide wildfire survivors and homeowners peace of mind when disaster strikes," said Commissioner Jones. "Thousands of Sonoma and Napa area residents lost everything and survived the fires only to face more emotional distress, as they were faced with trying to create detailed inventories or discovered they were underinsured and may not have enough to rebuild their homes. This is about doing the right thing for consumers who buy their homeowner policy believing they have enough coverage to rebuild should the worst happen, pay their premiums faithfully, and then find they are coming up short when disaster strikes."
Senator Mike McGuire and Senator Bill Dodd both hail from the affected areas and know first-hand the toll these disasters have taken on their constituents and their communities. Their bills are reasonable and address current shortcomings that have left so many residents on the short end of the claims process.
McGuire's bill, SB 897 would require insurers to pay 80 percent of the limit of a policyholder's personal property coverage with no requirement for a written inventory. Dodd's bill, SB 894 would allow policyholders to combine various coverages within their homeowner policy to pay any covered losses.
As the number and severity of wildfires has increased over the past five years, California residents face the increasing reality that they are at risk for a devastating loss. Commissioner Jones and Senators McGuire and Dodd are focused on making common sense changes to the law that help make sure homeowners have some peace of mind when they have to recover from a wildfire or other disaster covered by their homeowner policy.
- The Senate Insurance Committee meets today at 1:30 p.m. in hearing room 112.
- Commissioner Jones and Senators McGuire and Dodd are holding a press conference with wildfire survivors outside the rear Senate Chamber doors (near room 215) at 12:30 p.m. today.
The California Department of Insurance, established in 1868, is the largest consumer protection agency in California. Insurers collect $310 billion in premiums annually in California. Since 2011 the California Department of Insurance received more than 1,000,000 calls from consumers and helped recover over $469 million in claims and premiums. Please visit the Department of Insurance website at www.insurance.ca.gov. Non-media inquiries should be directed to the Consumer Hotline at 800-927-4357. Teletypewriter (TTY), please dial 800-482-4833.