California’s FAIR Plan, the home insurer of last resort, may need a bailout after the L.A. fires
California's Fair Plan, the state's insurer of last resort, may be unable to pay billions in claims arising from the Los Angeles fires and may require a bailout that could ultimately be paid by homeowners statewide.
Homeowners in California could pay a surcharge of $1,000 or more if FAIR Plan runs dry
The reason the FAIR Plan is in dire straits is because it has so many policyholders in affected areas, including a
California Insurers Will Survive Fires—But FAIR Plan Faces Big Questions
Newsweek asked experts on the insurance market if they expect insurers to survive the financial fallout of these fires.
First the fires, now the fight: Flaws in California insurance plan will test L.A. homeowners
An insurance pool created by officials in California to help residents in wildfire-prone areas could frustrate victims of the L.A. wildfire.
Californians could face insurance surcharges if Los Angeles fire claims deplete FAIR Plan
Changes to the way the insurance industry is regulated in California may mean all of the state's residents will be paying for at least a part of the cost of rebuilding from the destructive wildfires in Los Angeles County.
California's FAIR Plan faces financial strain amid Los Angeles wildfire crisis
Los Angeles wildfires highlight California's insurance crisis as the FAIR Plan faces challenges with limited funds to cover massive fire claims.
Colorado FAIR Plan, insurer of last resort, aims to launch by end of first quarter this year
As wildfires rage in southern California, causing unprecedented destruction to thousands of homes, homeowners in Colorado unable to obtain insurance might soon find some relief.
California’s insurer of last resort has potential exposure to LA wildfires of nearly $5 billion and reinsurance of $5.78 billion
"The FAIR Plan, a not-for-profit catastrophe insurer, has the payment mechanisms in place to ensure all covered claims will be paid."
Why all California homeowners could be on the hook for LA County wildfire costs
Insurance providers could charge policyholders a “supplemental fee” if the state’s insurer of last resort runs out of money.
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Fair Plan confirms $900mn retention, $5.78bn re exhaustion point
The California Fair Plan (CFP) has confirmed its reinsurance programme attaches at $900mn, with a limit of $5.78bn and ...
What happens if CA FAIR Plan goes bankrupt? Here's how it could affect policyholders
"You can bet that if the FAIR Plan goes bankrupt - and it's a good bet it will - the insurance companies will come after us ...
The New York Times8d
California’s Insurance System Faces Crucial Test as Losses Mount
The California FAIR Plan, the state’s insurer of last resort, had just $377 million available last week to pay claims that could reach billions, officials said. By Christopher Flavelle ...
KIE: LA Fire Dip Trade Has Played Out (Rating Downgrade)
Insurance stocks typically drop during large catastrophe events but recover as more information becomes available, as seen ...
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FAIR Plan policies surge 85% in Pacific Palisades amid wildfire threat
Statewide, the FAIR Plan reported a year-over-year increase of 49,823 residential policies in 2023, bringing the total to 324 ...
Bill meant to help stabilize California insurance market has support. When could it pass?
A bill meant to help stabilize California’s troubled insurance market has key early support as wildfires continue to cause ...