CA| Insurance Commissioner Ricardo Lara has announced that more insurance companies are paying wildfire survivors without requiring a detailed inventory of their personal property, following his recent request to simplify the claims process. This move aims to expedite financial assistance to those affected by wildfires in Southern California. The majority of homeowners insurance companies have agreed to provide at least 75% of contents coverage without an inventory, with some offering up to 100%. Commissioner Lara is also supporting legislation, such as the Eliminate the List Act, to mandate full coverage without inventory requirements for wildfire survivors.
Key Points:
- Simplified Claims Process: Many insurance companies have agreed to provide contents coverage without requiring a detailed inventory, helping to expedite financial assistance to wildfire survivors.
- Legislative Support: Commissioner Lara is sponsoring the Eliminate the List Act, which aims to require insurance companies to pay 100% of contents coverage without an inventory for wildfire survivors.
- Consumer Protections: Existing consumer protection laws require insurers to provide advance funds for replacing personal property after disasters, and the proposed legislation would extend the time allowed for providing proof of loss to at least 180 days following a state of emergency.