CA Asks Insurers to Fully Cover LA Wildfire Victims’ Personal Property Without Itemization & More

CA Urges Insurers to Make Things Easier for LA Wildfire Victims

California Insurance Commissioner Ricardo Lara (D) issued a notice to residential property insurance companies in the state urging them to go beyond their legal obligation and pay policyholders affected by the wildfires last month in Southern California 100% of their personal property coverage limits without requiring them to itemize everything they lost. The notice, which doesn’t have the force of law, gave insurers until Feb. 28 to inform the Department of Insurance whether they will comply with Lara’s request.

On Jan. 23 Lara issued a bulletin reminding insurers and adjusters that under the state of emergency declared by Gov. Gavin Newsom (D) as a result of the fires, insurers were required to pay up to 30 percent of a policyholder’s contents coverage limit, up to a maximum of $250,000, without itemization. (NEW YORK TIMES)

FL Gov Calls for Over $600M in Budget for Home-Hardening Efforts to Lower Cost of Homeowners Insurance

As part of his 2025-26 budget, Florida Gov. Ron DeSantis (R) proposed spending about $590 million on a program to help lower insurance premiums by strengthening homes against hurricanes. The budget would also provide $30 million for a similar home-hardening program for condominiums. (WUSF)

IN Considering Raising Limits on Payday Loans

A bill under consideration in Indiana (HB 1174) would raise the limit on payday loans to $25,000 from its current level of $825. The measure would also increase the maximum interest rate payday lenders could charge to 36% from the current 25% rate. (WRTV, LEXIS NEXIS STATE NET)

—Compiled by SNCJ Managing Editor KOREY CLARK

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