LOS ANGELES – According to a new report released by the California Department of Insurance, the number of homeowners non-renewed by insurance companies fell by 10% statewide in 2020 compared to the previous year.
Mandatory moratoriums by Insurance Commissioner Ricardo Lara made up more than 80% of the statewide reduction in non-renewals. The report also showed that the number of policies written by the FAIR Plan increased for the second year to a new high, underscoring the need for continued actions that Lara has taken to strengthen its coverage for consumers. The data represented approximately 98.8% of the homeowners’ insurance market in the state.
“More communities are rolling up their sleeves to protect their homes from wildfire. And more insurance companies are heeding my