California FAIR Plan's $1 billion bailout
Insurers and policyholders could be on the hook for $1 billion to cover claims from the Southern California wildfires.
Close to half a million Californians use the FAIR plan for their homeowners’ insurance coverage. From September 2023 to ...
The California FAIR Plan does not have enough money to weather the impact of the record-breaking Los Angeles wildfires on its own. The California Department of Insurance approved the FAIR Plan's ...
Silicon Valley on MSN1d
Bay Area homeowners likely to pay forfCalifornia FAIR Plan insurance bailoutBay Area homeowners will likely 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 ...
In earlier statements, the FAIR Plan said it can only tap into reinsurance — essentially insurance for insurance companies — once it pays its first $900 million in claims. See also ...
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