Hollywood mogul Tyler Perry has taken a strong stance against insurance companies for what he calls “pure greed” in canceling homeowners’ policies in California.
In an Instagram post on Sunday, Perry shared his outrage after learning about the struggles of families battling the destructive blazes. He recounted the story of a woman using a garden hose to protect her 90-year-old parents’ home after their insurance was canceled.
“Does anyone else find it appalling that insurance companies can take billions of dollars out of communities for years and then, all of a sudden, be allowed to cancel millions of policies for the very people they became rich on?” Perry wrote to his 7 million followers.
The filmmaker and actor called out the insurance industry for abandoning long-term policyholders who have consistently paid premiums. “People who have paid premiums all of their lives are left with nothing because of pure greed,” he said.
Perry’s comments come as California grapples with devastating wildfires that have claimed at least 24 lives, destroyed over 12,000 structures, and displaced thousands of residents. In response to the crisis, California Insurance Commissioner Ricardo Lara recently announced a one-year moratorium on policy cancellations and nonrenewals for homeowners in wildfire-affected areas.
The state is also implementing new regulations requiring insurance companies to offer coverage in wildfire-prone regions after several major insurers left the market due to increasing risks and big losses.
Perry expressed empathy for the victims of the wildfires and pledged to take action. “As I am in the process of trying to figure out what steps to take to do all I can to help as many as I can, I am keeping everyone in my prayers,” he wrote.
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