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Insurers May Leave Fire-Risk Areas In California

When it comes to insurance companies, there has always been a forced relationship between customers and insurers. If you want to protect your home, your family, and your investments, then you have no other choice than to buy insurance. As the saying goes, “stuff happens,” and when that stuff happens while you are uninsured, you have to admit that insurance is necessary for security. However, there has always been a poignant question that nags at the back of customers’ minds: “do insurance companies care about those who have been affected by disaster?” This article could have the answer we were looking for, but it is a hard pill to swallow.

Insurance Companies’ Possible Retreat from California

After receiving 3.3 billion dollars in fire insurance losses due to the California wildfires, insurance companies may be running for the hills. Insurance companies that have historically given policies to fire-risk areas in California may choose to “bow-out” of the policy business in certain California areas due to losses they have sustained from the October fires. The recent fires struck harder than insurers had thought possible, and this means that areas that were once considered to be “low-risk” for fire damage will need to be legally claimed as “higher-risk” for future fire claims. Rather than go along with this increase in risk, insurance companies are thinking of dropping services all together for Californians who live in these areas.

To put this in perspective, insurance companies are possibly unwilling to continue servicing families whose homes and lives are at risk. Insurers would rather abandon those in need than potentially lose money.

When insurance companies are unwilling to cover people because they are “too risky,” it calls into question how insurance companies ethically operate. An insurance company’s job is to insure people, but apparently when they actually have to do that, it is seen as a “loss.” Apparently, the ‘real victims’ in this tragedy are the insurance companies that are contractually obligated to help people rebuild their lives, and the California community needs to rally around these insurers and make sure they are more than capable of getting that profit back.

Arnold & Itkin attorneys are distraught about the insurance industry and how they treat their customers. The idea that a company (whose sole job in this world is to protect those in need) would leave people in their most desperate time is sickening. At Arnold & Itkin LLP, we fight to win for a number of reasons, but the first and primary reason we fight is to give people what they are due. When tragedy strikes, we saddle up and ride into the fray, ready to win for those who have lost everything in their most desperate hour.

We turn to help while others turn to flee.

Those who live in California, our hearts go out to you in this time. In addition, our attorneys are hoping to hear from you. Our firm has represented thousands of claims for catastrophic property loss, securing billions in recovery for our clients. We can help you rebuild—and it all begins with a free consultation. Let us advise you on your next course of action. We are not interested in preying on the weak; we are interested in giving the weak a voice against unjust companies.

If you or a loved one have been affected by the California wildfires and need assistance with your claim, do not hesitate to call (888) 493-1629 now to get the answers you are looking for.