Could homeowners statewide be charged a fee to help pay for LA wildfire insurance claims? Yes, but not yet.
The California FAIR Plan was the 'insurer of last resort' for many people who lost their homes in LA last month. The FAIR Plan now needs help paying those claims.
LAist3h
To keep California high-risk insurer solvent, homeowners will face a one-time assessment
The FAIR Plan will impose a special charge on insurers and homeowners to cover $1 billion in L.A. wildfire costs.
The American Spectator4h
After the Wildfires, a Predictable Bailout
As property owners struggle to find insurance policies, they’ve increasingly had to rely on the FAIR Plan (Fair Access to ...
California Insurance Commissioner calls on insurance companies to bail out FAIR Plan
As California grapples with a home insurance crisis, Insurance Commissioner Ricardo Lara is taking action he says will save ...
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 ...
The Press Democrat5h
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 ...
InsuranceNewsNet6h
Bay Area homeowners likely to pay forfCalifornia FAIR Plan insurance bailout
Bay Area homeowners will likely be on the hook for a share of a massive bailout of California "s insurer of last resort after it ran out of money to pay claims arising from the devastating Los Angeles ...
California homeowners will pay part of FAIR Plan’s $1 billion assessment
The state’s insurance of last resort is charging a $1 billion special assessment to private insurance providers, a move ...
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 ...
Mansion Global8h
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'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 ...