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Supervisors back protections for renters hurt financially by fires; AG announces more price gouging charges
nation, with an unhoused population of more than 75,000 people and more people are falling into homelessness as fast as our system is able to re-house others." Supervisor Holly Mitchell raised concerns that a prior fund advocated by her, to support workers and businesses impacted by the fire, would overlap with the new initiative. She further pushed See Fires Page 14
See State Farm Page 28
The Andrew McNally House in Altadena lays in ruins following the Eaton Fire. | Photo courtesy of Los Angeles County/Wikimedia Commons (CC0)
modeled on the COVID- 19 rent relief programs. Supervisor Lindsey Horvath called the motion a "narrowly targeted eviction protection" and said the impact of wildfires extended beyond those living in the affected area, to businesses and workers. "Even before the fires, the LA housing market was in crisis," said Horvath, who introduced the motion. "Los Angeles is one of the most unaffordable areas in the
By Joe Taglieri joet@beaconmedianews.com alifornia Insurance Commissioner Ricardo Lara on Friday asked for a meeting with State Farm for a more detailed explanation of why the company has requested Lara's approval for an emergency 22% rate hike on homeowner policies. In a letter to California's largest insurer, Lara said state law requires State Farm to detail the reasons for the proposed rate hike. “Under the strict review laid out by Proposition 103, the burden is on State Farm to show why this is needed now," Lara wrote. "State Farm has not met its burden.” Lara scheduled a meeting Feb. 26 in Oakland with Insurance Department officials, the case's intervenor Consumer Watchdog and State Farm representatives. According to Lara's office, the meeting will focus on: • "State Farm’s financial stability: Why has the company’s financial position deteriorated despite previous rate increases, and what other steps—beyond raising rates—has the company taken to restore stability? • "Justification for the emergency rate increase: What has changed since State Farm’s last rate filings that now requires urgent relief? • "Consumer impact: How would granting this request affect policyholders, especially those who have already faced premium increases and non-renewals? • "Transparency in decision-making: Has State Farm provided adequate documentation to justify its claims, and is it considering financial support from its parent company?" On Feb. 3, the company announced it received more than 8,700 claims and paid out over $1 billion. "We know we will ultimately pay out significantly more, as these fires will collectively be the costliest in the history of the company," State Farm President/CEO Dan Krause and other company executives wrote in a letter to Lara. "Although reinsurance will assist us in paying what we owe to customers, the costs of these fires will further deplete capital from
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Department of Consumer and Business Affairs to report back to the board in 15 days on developing financial parameters of a fund, at least $10 million to be managed by a third- party sponsor to support impacted tenants and landlords. The report will also include alternative programs potentially available for those struggling with job loss and economic insecurity, and recommendations for prioritization for rental debt relief
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Insurance commissioner wants meeting with State Farm on rate hike
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By Staff and City News Service he Los Angeles County Board of Supervisors voted 4-0 Tuesday evening to take the initial step to provide limited eviction protections for renters and small business owners financially impacted by the January wildfires. The vote directs the Office of County Counsel to draft a resolution to be presented at next Tuesday's board meeting. The amended resolution will cover tenants throughout Los Angeles County who are financially impacted by the January wildfires, who have signed up for relief programs, unemployment insurance or emergency benefits, owing to a loss of at least 10% monthly income. Landlords will be prohibited from imposing late fees, interest, or other charges on rental debt, but allowed to challenge a tenant's eligibility for free of charge. If approved, the resolution will remain in effect until July 31. The initial proposal was to remain in effect until Jan. 31, 2026. Tuesday's motion also directed the CEO and the
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