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Once a claim is accepted, California law states that the company has 30 days to pay out. ... If their house is worth more, the fire risk will not cover all the damage.
As Southern California Edison fights claims that it caused the deadly Eaton fire, the company is lobbying state regulators to have its customers cover more than $7 billion for damages it paid to ...
California lawmakers have created a wildfire insurance fund with access to $21 billion that is meant to ensure that Southern California Edison remains solvent and victims' claims are paid in full.
Risk modelers have estimated the cost to the insurance industry to pay for property damage, temporary housing costs and other claims at $20 billion to $45 billion. That would make the fires one of ...
As of January 28, the Palisades Fire has been confirmed to have destroyed 6,837 homes and other structures and burned a total of 23,448 acres. As of the latest reports from the California Department of Forestry and Fire Protection, damage assessment teams are nearing completion of their inspections. The fire was reported to be 95% contained. [118]
A video released as part of an ongoing lawsuit against Southern California Edison, the electrical utility for Los Angeles, appears to show what a law firm says is the start of the deadly Eaton Fire.
An 18th-century fire insurance contract. Property insurance can be traced to the Great Fire of London, which in 1666 devoured more than 13,000 houses.The devastating effects of the fire converted the development of insurance "from a matter of convenience into one of urgency, a change of opinion reflected in Sir Christopher Wren's inclusion of a site for 'the Insurance Office' in his new plan ...
Southern California residents facing losses from this week’s Los Angeles-area fires are beginning to confront their next challenge: filing an insurance claim. Though mainstream insurers garnered ...
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