California FAIR Plan has already paid out $700mn+ for LA wildfires
The California Fair Plan (CFP) has already paid out more than $700mn for damages related to this year’s Los Angeles wildfires, the insurer-of-last-resort has reported. The figure brings losses closer to CFP’s $900mn reinsurance attachment point, and the insurer said claims “continue to be reported daily.”
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.
Ordering the insurance companies’ FAIR Plan to continue swiftly paying claims to Southern California wildfire survivors, Insurance Commissioner ...
The California FAIR Plan does not have enough funds for the potential liabilities and the payouts that will have to come for this recent fire." Ricardo Lara, California's insurance ...
SAN DIEGO — As wildfires continue to ravage Los Angeles County, concerns are mounting over the financial capacity of California's insurer of last resort, the FAIR Plan, to handle what will ...
Wildfires push California property owners to the costly FAIR insurance plan. With insurers canceling or refusing policies in high-risk wildfire areas, more Californians are turning to the ...
SAN FRANCISCO (KGO) -- What happens if the California ... and renter's fire insurance - even renters living in high-fire areas can cover their belongings under the FAIR Plan.
The program guaranteeing fire insurance coverage for homeowners turned down by traditional companies, known as the California FAIR Plan, could run out of money following the devastating ...
The California FAIR Plan Assn., the state’s property insurer of last resort, was born of smoldering ashes — not of a wildfire, but of one of the worst urban disturbances in U.S. history.
"There's no question there's going to be a lot of people impacted by this fire where their insurance falls short," said Amy Bach, with United Policyholders. For example, the California FAIR ...
Results that may be inaccessible to you are currently showing.
Hide inaccessible results
Feedback