California Recovers Nearly $13 Million Following 2007 Wildfires

Nearly one year after the October 2007 wildfires, California Insurance Commissioner Steve Poizner announced that the state’s Department of Insurance has recovered more than $12.7 million from insurance companies by standing up for consumers who had been shortchanged.

The $12.7 million recovered includes:
-$9 million for San Diego consumers;
-$1.9 million for Lake Tahoe/Angora wildfire survivors; and
-$1.3 million for San Bernardino residents.

CDI said it was able to recover those funds for consumers that notified the Department of problems and suspected unfair treatment by their insurer. CDI has received 549 consumer complaints since the fires broke out almost one year ago.

Of the 549 complaints received from consumers, 106 involved underinsurance allegations. CDI has recovered more than $3.8 million for consumers who had complaints stemming from underinsurance issues. That includes nearly $2.6 million for San Diego wildfire survivors and nearly $1.2 million for Lake Tahoe/Angora wildfire survivors.

As a result of the 2007 wildfires, nearly 39,000 claims were filed. To date, nearly 80 percent, or 30,000 claims, have been closed after consumers have received payment from their insurance company. The fires caused $2.3 billion in losses.

Source: CDI

Topics Catastrophe Natural Disasters California Wildfire