The New York Times8d
California’s High-Risk Insurer Gets $1 Billion Bailout After L.A. Fires
State regulators said Tuesday that they will allow the program, known as the FAIR Plan, to collect $1 billion from private insurance companies doing business in California to pay its claims.
California seeks $1 billion from insurers to shore up FAIR Plan after LA fires
California Insurance Commissioner Ricardo Lara has requested $1 billion in additional funds from the commission's member ...
Insurancenewsnet.com5d
FAIR Plan running out of money; homeowners may end up bailing 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. The California Department of Insurance approved the FAIR Plan's ...
The Washington Post6d
California’s insurer of last resort runs out of money to pay L.A. fire claims
“We will move people away from the FAIR Plan,” he said. The $1 billion assessment is the largest in the history of the plan, which was created in 1968 as an insurance safety net. The last time ...
USA Today6d
Critical California insurer calls for $1 billion infusion to cover LA wildfire claims
The California Department of Insurance said Tuesday they will allow the FAIR Plan, designed for Californians who can’t get coverage on the private market, to collect $1 billion from insurers ...
Bay Area homeowners likely to pay for California FAIR Plan insurance bailout
Bay Area homeowners likely will be on the hook for a share of a massive bailout of California’s insurer of last resort after ...
USA Today6d
California homeowners will pay temporary fees to help pay for wildfire insurance claims
Members of the FAIR Plan, property insurance companies licensed to do business in the state, will also provide additional funds, which the commissioner states are necessary for the plan to ...