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California FAIR Plan gets $1 billion assessment to head off insolvency
It means California property owners will likely be billed from their private insurers to help compensate the FAIR Plan.
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.
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.
Bay Area homeowners likely to pay for California FAIR Plan insurance bailout
Bay Area homeowners will likely be on the hook for helping bail out California’s insurer of last resort to the tune of $1 billion after it ran out of money to pay claims from the devastating Los Angeles wildfires.
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 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 received approval for an
California’s high-risk insurer gets $1 billion bailout after L.A. fires
California's home insurance plan of last resort, designed for people who can't get coverage on the private market, does not have enough money to pay claims from the Los Angeles wildfires and is getting an infusion of cash from regular insurers.
California’s FAIR Plan gets $1 billion bailout after L.A. fires
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
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 response to the Los Angeles wildfires — half of which could ultimately be ...
Insurance commissioner urges inventory requirement waiver
Owners of homes lost in L.A. wildfires may not have to tally their burned stuff to be paid back by insurance companies.
The Santa Barbara Independent20h
Commissioner Lara Takes Action to Ensure FAIR Plan can Continue Paying Consumer Claims After the Southern California Wildfires
Ordering the insurance companies’ FAIR Plan to continue swiftly paying claims to Southern California wildfire survivors, Insurance Commissioner ...
California's insurer for people without private coverage needs $1 billion more for Los Angeles fires claims
California’s plan that provides insurance to homeowners who can’t get private coverage needs $1 billion more to pay out ...
Insurer Mercury Will Discuss the Los Angeles Wildfires and Its Own Prospects
With about 4.5% of California’s home insurance market, Mercury faces a double whammy from the fires that engulfed Pacific ...
Insurance Business America9d
Claims related to Los Angeles wildfires hit more than $4.2 billion -- report
The insurance industry has paid over $4.2 billion in claims related to the Los Angeles wildfires as of January 30, according ...