The New Hampshire insurance commissioner said his office is making calls to consumers to let them know how the California wildfires could send a ripple effect through the insurance industry.
"We're trying to understand the degree of it, but obviously, it's going to have some consequences," said Commissioner D.J. Bettencourt. "The way that the company will account for those massive losses and the payouts associated with them is they'll be upward pressure on premiums, and all of us who have insurance coverage are going to feel that to some degree."
In California, the insurance commissioner said they are in touch with those who have lost their homes to make sure they know what resources are available if they need help.
"Folks may not be insured or are self-insured. We're looking at some state programs, of course, the federal government around FEMA and what the president's recent announcements do to help and make sure that we get some sort of services relocate folks," said Ricardo Lara, California insurance commissioner.
Officials are also reminding everyone that no matter where you live, scammers strike in the middle of disasters.
"This is a time when fraud becomes prevalent. Out-of-state adjusters come into communities making false promises. And so, we want to make sure that consumers know that they can call our department at 1-800-927-4357 so we can walk them through the process," Lara said.
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