California property and casualty insurers may recover up to half of the $1 billion California FAIR PLAN assessment through a temporary supplemental fee on policyholders, according to a report from AM Best. The measure is intended to help maintain market stability and coverage availability, according to Insurance Commissioner Ricardo Lara.

Bay Area homeowners likely will be on the hook for a share of a massive bailout of California’s insurer of last resort after it ran out of money to pay claims arising from the devastating Los Angeles wildfires.

Harvey Rosenfield, Consumer Watchdogs, talks about the California FAIR Plan’s $1 billion bailout and the plan to impose a special charge on homeowners and insurance companies to cover L.A. wildfire costs.