Revealed - insurers may recover up to half of $1B California FAIR Plan assessment
California property and casualty insurers may recover up to half of the $1 billion California FAIR PLAN assessment through a temporary supplemental fee on policyholders, according to a report from AM Best. The measure is intended to help maintain market stability and coverage availability, according to Insurance Commissioner Ricardo Lara.
The $1 billion in additional funding for the state's FAIR Plan will ensure consumer claims are paid after the devastating wildfires in Southern California, Lara said. Members of the FAIR ...
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.
In the wake of the Los Angeles fires, the California FAIR Plan, the state's property insurer of last resort, requested approval for $1 billion from the California insurance commissioner ...
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 ...
USA — 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, the state Insurance ...
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