In the aftermath of the Los Angeles fires, the FAIR plan gets a $1 billion bailout — the latest indication that California’s home insurance market is on shaky footing.

California’s plan that provides insurance to homeowners who can’t get private coverage needs $1 billion more to pay out claims related to the Los Angeles wildfires

California will collect $1 billion in special fees from insurance companies to make sure it can pay out Los Angeles fire claims filed with the Fair Plan, California's insurer of last resort, the state insurance commissioner said.

The funds will help the state’s insurer of last resort pay claims to thousands of homeowners affected by the wildfires.