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Business News

California insurance commissioner issues emergency declaration to help fire survivors across the state

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Written by: California Department of Insurance
Published: 15 November 2018
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.

Wells Fargo donates $250,000 to support communities impacted by California wildfires

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Written by: Elizabeth Larson
Published: 13 November 2018
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.”

California controller reports state revenue missed projections for October

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Written by: California Controller's Office
Published: 12 November 2018
SACRAMENTO – State Controller Betty T. Yee on Friday reported the state received $6.57 billion in revenue in October, falling short of assumptions in the 2018-19 fiscal year budget by 5.9 percent, or $412.2 million.

This month, sales tax was the only major revenue source to come in higher than projected in the enacted budget. Personal income tax (PIT) and corporation tax – the two other revenue sources in the “big three” – were lower than assumed in the enacted budget.

Four months into FY 2018-19, revenues of $35.28 billion are 3.0 percent ($1.02 billion) higher than projected in the budget enacted at the end of June. Total revenues for FY 2018-19 thus far are 8.1 percent ($2.63 billion) higher than through the first four months of FY 2017-18.

Sales tax receipts of $1.03 billion for October were 8.2 percent ($77.9 million) more than anticipated in the FY 2018-19 budget.

For October, PIT receipts of $5.13 billion were 8.4 percent ($472.0 million) less than expected in the FY 2018-19 Budget Act.

October corporation taxes of $254.8 million were 10.9 percent ($31.1 million) below FY 2018-19 Budget Act estimates.

Southern commercial Dungeness crab season delayed in ocean waters north of Bodega Head due to public health hazard

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Written by: California Department of Fish and Wildlife
Published: 10 November 2018
NORTHERN CALIFORNIA – California Department of Fish and Wildlife Director Charlton H. Bonham has delayed the opening of the commercial Dungeness crab fishery from Bodega Head, Sonoma County north to the Sonoma/Mendocino county line.

The commercial Dungeness crab fishery south of this area will open as scheduled on Thursday, Nov. 15.

State health agencies determined that Dungeness crab in state waters from Bodega Head, Sonoma County north to the Sonoma/Mendocino county line have elevated levels of domoic acid and recommended a delay of the commercial fishery in this area.

The commercial delay includes ocean waters from the southern boundary of Bodega Head State Marine Reserve, Sonoma County (38° 18' N. latitude) north to the Sonoma/Mendocino county line (38° 46.125' N. latitude).

Commercial take and/or possession of Dungeness crab is prohibited in these waters. North of the Sonoma/Mendocino county line, the Dungeness crab commercial season is not scheduled to open until Dec. 1. That opener is also subject to delay pending test results both for domoic acid as well as crab quality.

The area south of the southern boundary of the Bodega Head State Marine Reserve, Sonoma County to the California/Mexico border will open at 12:01 a.m. on Thursday, Nov. 15, to be preceded by an 18-hour gear setting period that would begin no earlier than 6:01 a.m. on Wednesday, Nov. 14.

This delay shall remain in effect until the Director of the Office of Environmental Health Hazard Assessment, or OEHHA, in consultation with the State Public Health Officer at the California Department of Public Health, or CDPH, determines that domoic acid no longer poses a significant risk to public health and recommends opening the fishery in this region.

CDFW will continue to coordinate with CDPH and OEHHA to test domoic acid levels in Dungeness crab to determine when the Dungeness crab commercial fishery in this area can safely be opened.

Once a positive determination is made to open the fishery, CDFW may provide the fleet a minimum of 72-hour advance notice announcing when trap gear can be set.

Additional information on the commercial Dungeness fishery can be found here.

The recreational fishery for Dungeness crab opened in most areas of the state on Nov. 3 under a health warning issued by CDPH for Dungeness crab caught in Sonoma County. The recreational fishery remains closed in state waters from Patrick's Point in Humboldt County north due to elevated levels of domoic acid.

Domoic acid is a potent neurotoxin produced by a naturally occurring marine alga, whose levels can be increased under certain ocean conditions, and can accumulate in shellfish, other invertebrates and sometimes fish.

It causes illness and sometimes death in a variety of birds and marine mammals that consume affected organisms. At low levels, domoic acid exposure can cause nausea, diarrhea and dizziness in humans. At higher levels, it can cause persistent short-term memory loss, seizures and death.
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