Responding to several years of unprecedented fires across California, regulators on Thursday imposed a one-year moratorium banning insurers from dropping policies for homeowners in wildfire-ravaged areas of the state. AdvertisementOn Thursday, Lara said the moratorium will give both homeowners and insurers time to reassess a path forward for living with wildfires. Sometimes that path ends at the California Fair Access to Insurance Requirements, also known as the FAIR plan. It’s an insurance pool for high-risk policies that counts every insurer in California as a member. Advertisement“It can make insurers even more reluctant to insure those areas if they could have a moratorium imposed,” he said.

Source: Los Angeles Times December 05, 2019 19:16 UTC