Insurers pay more than $22.4 billion to Southern California wildfire survivors

Insurance Commissioner Ricardo Lara released new data showing insurance companies have paid more than $22.4 billion to Southern California wildfire survivors, accounting for nearly 80% of all recovery funds committed to the Los Angeles recovery effort. Federal, state, local, and private sources have appropriated and collected approximately $6 billion, though not all has been distributed yet as rebuilding begins.

The $22.4 billion in insurance payments represents a $2 billion increase since July. Of the 42,121 claims filed (up 229 since July), 94% have been fully or partially paid. The total includes more than $158 million recovered through the Department’s investigation of consumer complaints.

“Our experience over many past disasters shows recovery is multifaceted and requires a coordinated effort. Insurance is the first to pay, but more money from federal, state, and local governments, plus private charities, is needed for a speedy and successful recovery. Our dedicated Department experts are enforcing laws to ensure that claims are processed fairly, quickly, and responsively, allowing homeowners to recover on their own terms. I will continue moving forward to implement new laws to make communities safer, and working with the Legislature and Governor to bring forward more actions to help wildfire survivors recover on their own terms. And I call on Congress to pass legislation to expedite wildfire safety and urge the President to support the Governor’s call for an additional $33.9 billion in recovery funds. Just as we have done after every disaster, our efforts will continue until people are safely back in their homes.” – Insurance Commissioner Ricardo Lara.