California FAIR Plan is running out of money

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.
FAIR Plan to assess insurers $1 billion for L.A. fires; consumers may be on the hook for nearly half
The California FAIR Plan, the state's insurer of last resort, has received approval to assess its member carriers $1 billion to help pay its L.A. fire losses -- with consumers possibly on hook for nearly half under new state policy.
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 own. Instead, it will turn to private insurers for help — triggering a process where insured California homeowners across the state will end up paying part of the bill.
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 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 to face new fees to keep fallback insurance plan solvent
After saying it would run out of funds by March, California’s last-resort fire insurance provider will impose a special charge of $1 billion on homeowners and insurance companies, the first such move in more than three decades.
California’s insurer of last resort runs out of money to pay L.A. fire claims
In the aftermath of the Los Angeles fires, the FAIR plan gets a $1 billion bailout — the latest indication that California’s home insurance market is on shaky footing.
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 covered by policyholders.
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 ...
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-run program has renewed ...
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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 ...