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 ...
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 ...
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 ...
insurancebusinessmag8h
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 ...
insurancebusinessmag6d
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 ...
JD Supra1d
California Sustainable Insurance Strategy (SIS) Allows FAIR Plan Assessment Recoupment
The devastating wildfires in the Los Angeles region earlier this year have caused enormous financial strain on recovery mechanisms, such as the ...
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.
AZ Central8d
California homeowners will pay temporary fees to help pay for wildfire insurance claims
The $1 billion in additional funding for the state's FAIR Plan will ensure consumer claims are paid after the devastating wildfires in Southern California, Lara said. Members of the FAIR Plan ...