Business News
SACRAMENTO – In the wake of the deadliest and most destructive wildfire in California's history, state Insurance Commissioner Dave Jones today declared an emergency situation, which allows insurance companies to use out-of-state adjusters to help handle the large volume of claims resulting from the Camp and Woolsey fires.
With more than 8,700 homes destroyed so far by the Camp fire alone, Jones directed the California Department of Insurance to issue a formal notice to insurers, licensed public adjusters and admitted carriers to make sure all claims adjusters assigned to wildfire claims, including those not licensed in California but working under a California licensed adjuster, are properly trained on the California Unfair Practices Act, Fair Claims Settlement Practices Regulations, and all laws relating to property and casualty insurance claims handling.
"Wildfire survivors need all the help we can provide, as they begin the long road to recovery," said Insurance Commissioner Dave Jones. "We are taking action to make sure policyholders are protected as they begin navigating the claims process and rebuilding their homes. I am reminding all insurers and adjusters of their obligation to comply with all of the California laws and help wildfire survivors."
Following last year's wildfires, the commissioner received feedback from wildfire survivors, public officials, and others that some of the representations made by insurance adjusters conflicted with California laws.
The formal notice issued Wednesday reminds adjusters of California insurance laws and draws attention to several new laws enacted in the last legislative session as urgency bills and are effective for claims resulting from the recent wildfires in northern and southern California.
Some of the new laws include:
– Policyholders now have 36 months after a declared disaster to collect full replacement cost to rebuild, replace at another location, or purchase an already built home at a new location.
– Additional living expense coverage is available for 36 months but is subject to policy provisions.
– Policyholders should contact their insurance company and insurance agent to begin the claims process. They may also contact the Department of Insurance Consumer hotline at 800-927-HELP (4357) to seek assistance or visit the department's Web site for tips and advice.
With more than 8,700 homes destroyed so far by the Camp fire alone, Jones directed the California Department of Insurance to issue a formal notice to insurers, licensed public adjusters and admitted carriers to make sure all claims adjusters assigned to wildfire claims, including those not licensed in California but working under a California licensed adjuster, are properly trained on the California Unfair Practices Act, Fair Claims Settlement Practices Regulations, and all laws relating to property and casualty insurance claims handling.
"Wildfire survivors need all the help we can provide, as they begin the long road to recovery," said Insurance Commissioner Dave Jones. "We are taking action to make sure policyholders are protected as they begin navigating the claims process and rebuilding their homes. I am reminding all insurers and adjusters of their obligation to comply with all of the California laws and help wildfire survivors."
Following last year's wildfires, the commissioner received feedback from wildfire survivors, public officials, and others that some of the representations made by insurance adjusters conflicted with California laws.
The formal notice issued Wednesday reminds adjusters of California insurance laws and draws attention to several new laws enacted in the last legislative session as urgency bills and are effective for claims resulting from the recent wildfires in northern and southern California.
Some of the new laws include:
– Policyholders now have 36 months after a declared disaster to collect full replacement cost to rebuild, replace at another location, or purchase an already built home at a new location.
– Additional living expense coverage is available for 36 months but is subject to policy provisions.
– Policyholders should contact their insurance company and insurance agent to begin the claims process. They may also contact the Department of Insurance Consumer hotline at 800-927-HELP (4357) to seek assistance or visit the department's Web site for tips and advice.
- Details
- Written by: California Department of Insurance
SAN FRANCISCO – Wells Fargo & Co. announced that it is donating $250,000 to fund wildfire relief efforts in California.
The funds will help support disaster relief operations for people impacted by the Camp fire in Northern California, and the Woolsey and Hill Fires in Southern California.
The American Red Cross will receive $125,000 to support those across the state that have been affected by wildfires.
Additionally, $50,000 is allocated to the United Way of Northern California, $50,000 is being granted to the Ventura County Community Foundation and $25,000 is being donated to the Los Angeles Fire Department Foundation.
Wells Fargo encourages customers experiencing hardship due to the wildfires to contact Wells Fargo Customer Support at the number on their credit card, debit card or statement to discuss their options.
Affected customers can also contact their banker by visiting their nearest Wells Fargo branch.
California Wells Fargo customers who wish to support American Red Cross wildfire relief efforts may also donate through Wells Fargo ATMs through Nov. 26 or by redeeming any amount of available Go Far Rewards for donation from Nov. 14 through Nov. 28.
· Customers can go to any Wells Fargo ATM in California and select the option to donate. There is no fee and 100 percent of contributions will be sent to the American Red Cross.
· Go Far Rewards customers can access their rewards account at www.GoFarRewards.wf.com or by calling the service center at 877-517-1358.
“Last year, I lost my home in one of the Northern California fires,” said Northern California Region Bank President Thomas Sands. “I know of the challenges many families are facing in impacted areas. I am proud that Wells Fargo is providing funding to nonprofits across California so they can help families with immediate needs.”
“These devastating fires are impacting our customers, neighbors and our own team members,” said Central Coast Region Bank President Ernie Pineda. “Our hearts go out to all those who have been affected, and we want to do our part to support the organizations who are helping victims of these fires. With the fires still burning and potentially more devastation, we will continue to work with nonprofits and those focused on recovery efforts, as we determine any additional assistance and support Wells Fargo may be able to provide in the coming weeks.”
The funds will help support disaster relief operations for people impacted by the Camp fire in Northern California, and the Woolsey and Hill Fires in Southern California.
The American Red Cross will receive $125,000 to support those across the state that have been affected by wildfires.
Additionally, $50,000 is allocated to the United Way of Northern California, $50,000 is being granted to the Ventura County Community Foundation and $25,000 is being donated to the Los Angeles Fire Department Foundation.
Wells Fargo encourages customers experiencing hardship due to the wildfires to contact Wells Fargo Customer Support at the number on their credit card, debit card or statement to discuss their options.
Affected customers can also contact their banker by visiting their nearest Wells Fargo branch.
California Wells Fargo customers who wish to support American Red Cross wildfire relief efforts may also donate through Wells Fargo ATMs through Nov. 26 or by redeeming any amount of available Go Far Rewards for donation from Nov. 14 through Nov. 28.
· Customers can go to any Wells Fargo ATM in California and select the option to donate. There is no fee and 100 percent of contributions will be sent to the American Red Cross.
· Go Far Rewards customers can access their rewards account at www.GoFarRewards.wf.com or by calling the service center at 877-517-1358.
“Last year, I lost my home in one of the Northern California fires,” said Northern California Region Bank President Thomas Sands. “I know of the challenges many families are facing in impacted areas. I am proud that Wells Fargo is providing funding to nonprofits across California so they can help families with immediate needs.”
“These devastating fires are impacting our customers, neighbors and our own team members,” said Central Coast Region Bank President Ernie Pineda. “Our hearts go out to all those who have been affected, and we want to do our part to support the organizations who are helping victims of these fires. With the fires still burning and potentially more devastation, we will continue to work with nonprofits and those focused on recovery efforts, as we determine any additional assistance and support Wells Fargo may be able to provide in the coming weeks.”
- Details
- Written by: Elizabeth Larson
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