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Newsom promotes bill to bring interest from fire-related insurance payments to homeowners

Summary by Ground News
California Gov. Gavin Newsom (D) threw his support Monday behind legislation aimed at guaranteeing that wildfire-impacted homeowners, rather than their lenders, would receive interest earned from insurance payouts.

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The HillThe Hill

Newsom promotes bill to bring interest from fire-related insurance payments to homeowners

California Gov. Gavin Newsom (D) threw his support on Monday behind new legislation aimed at guaranteeing that wildfire-impacted homeowners, rather than their lenders, would receive interest earned from insurance payouts. The bill, authored by state Assemblymember John Harabedian (D), intends to fix what the governor’s office described as “an inequity in current law,” which has…

·Washington, United States
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arcamax.comarcamax.com

California Gov. Gavin Newsom wants homeowners in burn areas to get interest earned on insurance payouts

As Los Angeles reels from the devastation of the Palisades and Eaton fires, Gov. Gavin Newsom plans to sponsor a bill that would ensure that homeowners, not lenders, benefit from interest earned on insurance payouts for destroyed or damaged ...

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Bond BuyerBond Buyer

California bill would allow fire victims to receive interest earned on payouts

A bill would allow homeowners to receive the interest accrued on insurance payments for lost or damaged property, rather than lenders.

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San Mateo County NewsSan Mateo County News

Governor Newsom pushes for fair insurance payments to homeowners recovering from wildfires

California – Governor Gavin Newsom today revealed his sponsorship of new legislation allowing disaster-affected homeowners to preserve interest accrued on insurance claims in an important move meant to provide relief to Californian residents impacted by the devastating wildfires. This idea is seen as an essential initial move in guaranteeing complete financial support for survivors of the LA-area firestorm and other disasters throughout the stat…

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arcamax.com broke the news in on Monday, February 10, 2025.
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