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 insurers to shore up the state-backed FAIR Plan after wildfires ravaged swathes of land in and around Los Angeles last month.
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It means California property owners will likely be billed from their private insurers to help compensate the FAIR Plan.
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