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Committee approves extending residential nonrenewal moratorium to some commercial properties after disasters
Summary
Senator L. Perez presented SB 547, a bill to expand the state’s post-disaster insurance moratorium to commercial properties located in ZIP codes within or adjacent to a fire perimeter after a state of emergency.
Senator L. Perez presented SB 547, a bill to expand the state’s post-disaster insurance moratorium to commercial properties located in ZIP codes within or adjacent to a fire perimeter after a state of emergency.
‘‘Existing law prohibits the cancellation or refusal to renew residential property insurance policies for residential properties located in a ZIP code within or adjacent to a fire perimeter for 1 year after a state of emergency is declared. This existing gap in state law was depicted in the devastating impact that the January 2025 wildfires…
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