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Committee moves to extend residential post-disaster moratorium protections to commercial properties
Summary
SB 547 would extend the one-year post-disaster moratorium on cancellations and nonrenewals (currently applying to residential properties in affected ZIP codes) to certain commercial properties, including small businesses and nonprofits, to give communities time to recover after declared emergencies.
Sen. Lena Gonzalez Perez’s SB 547, part of the Senate majority’s wildfire legislative package, received committee approval to move to the Appropriations Committee after testimony about commercial impacts from recent wildfires.
The bill would expand the existing residential moratorium that prevents insurers from canceling or refusing to renew residential property insurance in a ZIP code within or adjacent to a fire perimeter for one year after a state of emergency is declared. SB 547 would extend…
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