Wildfire victims file more than 4,400 claims with California’s FAIR Plan, home insurer of last resort
That’s enough to kick the plan’s strained finances further into crisis mode, increasing the chances that homeowners statewide ...
JD Supra10d
What You Need to Know about the California Fair Access to Insurance Requirements Plan (FAIR Plan)
This alert begins our series discussing legal issues related to the Southern California wildfires. We will continue to provide updates as ...
FAIR Plan gets 4,400 claims from LA wildfire victims
California’s insurer of last resort reported that claims now are high enough to trigger “re-insurance” payments from back-up ...
The New York Times26d
California’s Insurance System Faces Crucial Test as Losses Mount
The California FAIR Plan, the state’s insurer of last resort, had just $377 million available last week to pay claims that could reach billions, officials said. By Christopher Flavelle ...
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Hours of calls. Delayed payouts. What FAIR Plan coverage is like for some Californians whose homes have burned
McKim-Hibbard and her husband moved quickly to file a claim with the FAIR Plan after they learned their home had burned down in a wildfire. There were more than 450 people ahead of them in the ...
Los Angeles Times22d
California’s FAIR Plan, the home insurer of last resort, may need a bailout after the L.A. fires
To remain solvent, California ... worth of reinsurance the FAIR Plan announced Friday it had. The reinsurance requires the plan to pay the first $900 million in claims and has other limitations.
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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 ...