JD Supra4d
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 ...
LA Times on MSN16d
California’s FAIR Plan, the home insurer of last resort, may need a bailout after the L.A. fires
California's Fair Plan, the state's insurer of last resort, may be unable to pay billions in claims arising from the Los Angeles fires and may require a bailout that could ultimately be paid by ...
NerdWallet17d
Wildfires Ignite Insurance Crisis: What’s Next for Californians?
Insuring homes in fire-prone areas was already an issue, even with overdue reforms, and the state’s FAIR plan is ... home and auto claims for affected policyholders. California homeowners ...
Los Angeles Times16d
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.
USA Today24d
California had a home insurance crisis before the LA fires. It's only going to get worse.
High claim payouts, "plus the visual images of the destruction ... More homeowners have turned toward California’s insurer of last resort, the FAIR Plan, in recent years. The insurer has ...
Kiplinger18d
California's Home Insurance Crisis: Rising Risks, Soaring Costs and Limited Options
Three of California’s largest home insurance companies denied nearly half of their claims in 2023 — a rate significantly higher than the national average — according to a report by Weiss ...
ABC News25d
How will the California wildfires shape the home insurance industry?
Justin Sullivan/Getty Images The five wildfires tearing through the County of Los Angeles hit many California homeowners ... regarding the FAIR Plan's ability to pay claims," FAIR Plan ...