California FAIR Plan is running out of money

California FAIR Plan gets $1 billion assessment to head off insolvency
It means California property owners will likely be billed from their private insurers to help compensate the FAIR Plan.
California bails out FAIR Plan with $1 billion assessment in wake of LA fires
In the wake of the Los Angeles fires, the California FAIR Plan, the state's property insurer of last resort, requested approval for $1 billion from the California insurance commissioner, which he approved the same day. That money will be assessed from all home insurers operating in the state.
California Insurance Commissioner calls on insurance companies to bail out FAIR Plan
As California grapples with a home insurance crisis, Insurance Commissioner Ricardo Lara is taking action he says will save California's insurance program of last resort, known as the FAIR Plan.
California’s High-Risk Insurer Gets $1 Billion Bailout After L.A. Fires
The move will likely lead to higher costs for households across the state, and may push more insurers to leave, intensifying a home insurance crisis.
Bay Area homeowners likely to pay for California FAIR Plan insurance bailout
Bay Area homeowners will likely be on the hook for helping bail out California’s insurer of last resort to the tune of $1 billion after it ran out of money to pay claims from the devastating Los Angeles wildfires.
California FAIR Plan is running out of money; nearly all homeowners to help bail it out
The California FAIR Plan does not have enough money to weather the impact of the record-breaking Los Angeles wildfires on its own. Instead, it will turn to private insurers for help — triggering a process where insured California homeowners across the state will end up paying part of the bill.
insurancebusinessmag2d
'Take the money and run'? Homeowners face tough choices post-LA fires
Earlier this month, the California Department of Insurance announced that insurance companies have paid out $4.2 billion in ...
Los Angeles Times11d
Wildfire victims file more than 4,400 claims with California’s FAIR Plan, home insurer of last resort
More than 4,400 fire-affected homeowners in Los Angeles County have filed insurance claims with the state’s insurer of last resort — the California FAIR Plan. That’s enough to kick the plan ...
San Gabriel Valley Tribune9d
What is the FAIR Plan and will it be fair to wildfire victims?
What happens if the FAIR plan goes bust? If the money in the FAIR Plan runs out, insurance companies operating in California may be required to contribute additional capital to the plan.