Monday, April 27, 2009

Sayre Fire: Victims to recieve promised compensation

State Negotiates $46M Deal For Sayre Fire Victims

AIG-insured mobile home owners whose properties were devastated by the 2008 Sayre Fire will receive as much as an extra $125,000 on their policy under an agreement announced Tuesday by the state insurance commissioner.

The Sylmar-area fire destroyed 485 mobile homes, 370 of which were insured by American International Group, Inc.

Those policies included a stipulation that home owners would receive additional compensation if their homes were destroyed, but policyholders found that what they were provided with was insufficient to replace their mobile homes, according to the Department of Insurance.

The Department of Insurance made a $46 million deal with AIG to provide owners with an additional $100,000 to $125,000 per policy.

"Losing your home and all your belongings in a wildfire is absolutely devastating," said Insurance Commissioner Steve Poizner. "After years of making payments on their policies, homeowners count on their insurance companies to come through when they need them most -- when they lose everything."

Source: CBS2 - Link

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****REMINDER**** Every fire has the ability to be catastrophic. The wildland fire management environment has profoundly changed. Growing numbers of communities, across the nation, are experiencing longer fire seasons; more frequent, bigger, and more severe, fires are a real threat. Be careful with all campfires and equipment.
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