Tyler Perry Blasts 'Pure Greed' Of Insurance Companies Dropping Millions Of Policies Before LA Wildfires: 'Gut-Wrenching'
Tyler Perry is not afraid to call out insurance companies.
Perry took to social media Sunday calling out the "pure greed" of some insurance companies, who pulled the rug out from under homeowners scot-free after canceling millions of policies months before the L.A. fires began.
The actor and filmmaker didn't hold back, deeming the move "appalling" while highlighting that despite the unnamed companies lining their pockets, families are now "left with nothing."
"Watching a daughter use a garden hose to try and protect her 90-year-old parents' home because their insurance was canceled was just gut-wrenching to me," Perry, 55, wrote in a statement to fans on Instagram Sunday.
"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? People who have paid premiums all of their lives are left with nothing because of pure greed," the filmmaker continued.
"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," the acclaimed director concluded.
Homeowners were blindsided when State Farm — one of the largest home insurance companies in California — issued a statement in May 2023 advising customers that "homeowners insurance in California, will cease accepting new applications including all business and personal lines property and casualty insurance, effective May 27, 2023." However, the company wasn't done cutting back.
Despite claims that the company takes their responsibility in managing risks "seriously," just one year later in March 2024, the insurance company cut back again, informing customers they won't allow renewed policies for 30,000 homeowners and will withdraw from offering commercial apartment policies to 42,000 residents.
Palisades Fire raged towards Brentwood Saturday as LAFD tried to contain or slow it down.
— Paul A. Szypula 🇺🇸 (@Bubblebathgirl) January 12, 2025
They cut back brush, used fire hoses, and dumped loads of suppressive material in the path of the blaze.
LAFD risk their lives doing their jobs because Gavin Newsom didn’t do his job. pic.twitter.com/jMnlDOF1nG
"State Farm General takes seriously our responsibility to maintain adequate claims-paying capacity for our customers and to comply with applicable financial solvency laws. It is necessary to take these actions now," the company defended in their policy statement.
Accuweather has calculated estimated total damages upwards of $135 billion in the catastrophic L.A. wildfires, marking this deadly disaster the most expensive in U.S history.
In a heartbreaking turn of events, celebs to have their homes ravaged include Jhene Aiko, Mel Gibson, and Paris Hilton. The gut-wrenching rising death toll has recently increased to 24, per the Associated Press.
