California, Insurer

California’s High-Risk Insurer Gets $1 Billion Bailout After L.A. Fires
The move will likely lead to higher costs for households across the state, and may push more insurers to leave, intensifying a home insurance crisis.
California’s $1 Billion Insurer Bailout Deepens Housing Strains
California’s housing market is already one of the most expensive in the country. A San Francisco condo can cost as much as a four-bedroom house in Texas and families drive hours inland just to find a starter home.
California’s insurer for people without private coverage needs $1 billion more for LA fires claims
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 Department said Tuesday.
California homeowners will have to fund half of high-risk insurer’s $1 billion ‘bailout’
The plan will impose a special charge on homeowners and insurance companies to cover $1 billion in L.A. wildfire costs
California's last-resort home insurer is getting a $1 billion bailout. Homeowners could be on the hook for some of the bill.
The bailout will be funded by the state's private insurers, but a new rule says they they can pass up to half of the cost on to customers.
California’s State Insurance Gets $1 Billion Infusion as Wildfire Claims Overwhelm Providers
The FAIR Plan is funded by pooled money from insurers in the state in exchange for covering high risk properties
California bails out FAIR Plan with $1 billion assessment in wake of LA fires
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, which he approved the same day. That money will be assessed from all home insurers operating in the state.
California Seeks $1 Billion From Insurers to Shore up FAIR Plan After LA Fires
(Reuters) - 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.
California's $1 billion LA wildfire bill highlights insurers' struggle, analysts say
California's levy of $1 billion on private insurers to help pay out wildfire claims in its state-created safety net program has renewed focus on the challenges the industry faces in a market already losing appeal rapidly,
California fire insurer of last resort to be bailed out by assessments on other insurers
California's state-supervised fire insurance provider of last resort received approval to levy a $1 billion assessment on private insurers to ensure it can continue paying claims from the devastating January 2025 wildfires.
California FAIR Plan is running out of money; nearly all homeowners to help bail it out
The California FAIR Plan does not have enough money to weather the impact of the record-breaking Los Angeles wildfires on its ...
Bay Area homeowners likely to pay for California FAIR Plan insurance bailout
Bay Area homeowners likely will be on the hook for a share of a massive bailout of California’s insurer of last resort after ...
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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 ...
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California FAIR Plan gains approval for $1bn assessment from member firms
The California FAIR Plan Association, a consortium of all insurers licensed to provide property insurance in the state, has ...