Outstanding! The settlement reached this week by the California Department of Insurance and AIG provides additional insurance coverage to Sylmar wildfire survivors who lost their homes in the Oakridge Mobile Home Park last November.
News reports say the CDI/AIG settlement amount is reportedly between $37 million and $46 million in extra coverage, meaning the 370 AIG policyholders who lost their homes and worldly goods in the fire will be eligible to collect between $100,000 and $125,000 more from AIG (in addition to their other settlements).
Thanks go to California Insurance Commissioner Steve Poizner, LA City Councilman Richard Alarcon, and the folks at United Policyholders for fighting the good fight on behalf of our friends and neighbors from Oakridge Mobile Home Park.
It is good to hear that rebuilding of the Oakridge Mobile Home Park can begin soon in earnest. If you have any questions about Sylmar real estate, be sure to call me. Now is a great time to buy a Sylmar home or San Fernando Valley real estate.