Mark Gongloff: California insurer of last resort went bust. It won’t be alone.
The inevitable result of a fracturing private insurance market will be the socialization of disaster losses, as seen in ...
FAIR Plan 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 ...
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 ...
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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 ...
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Farmers Exchanges expect $600 million in losses from California wildfires
The Farmers Exchanges, which include Farmers Insurance Exchange, Fire Insurance Exchange and Truck Insurance Exchange, have ...
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 ...
California’s backup insurance provider seeks $1B after wildfires. Policyholders could pay half
The California FAIR Plan on Tuesday was allowed to seek $1 billion from insurance companies that do business in the state in ...
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 ...
L.A. wildfires up the pressure on California’s insurance commissioner over industry ties
The devastation caused by the twin blazes has raised fresh questions about whether the state — and its top insurance ...
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California’s insurer for people without private coverage needs $1 billion more for LA fires claims
The plan, with high premiums and basic coverage ... of thousands of homeowners onto the FAIR Plan. Wildfires are becoming more common and destructive in California due to climate change, and ...