California official bans insurance cancellations, nonrenewals in wildfire-affected areas

California's insurance commissioner issued a one-year moratorium on policy nonrenewals and cancellations in areas affected by devastating wildfires in and around Los Angeles. 

“I am using my moratorium powers to prevent insurance companies from canceling or non-renewing policies in wildfire-impacted areas, so people don’t face the added stress of finding new insurance during this horrific event,” the state’s Insurance Commissioner Ricardo Lara said in a statement Thursday.

“I...