1 day ago · The $1 billion assessment is the largest since the FAIR Plan was created in 1968, and the first time since the 1994 Northridge earthquake near Los Angeles that the FAIR Plan has faced claims it ...

13 hours ago · The FAIR Plan has already paid more than $700 million to policyholders. About 5,000 claims have been made from those two fires alone, state officials reported last week.

1 day ago · “Wildfire survivors can’t cash ‘what ifs’ to pay for food and rent, but they can cash FAIR Plan checks.” The plan also expects to receive $1.45 billion in reinsurance to help pay out claims.

1 day ago · SACRAMENTO, Calif. (AP) — 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.. The FAIR Plan is an insurance pool that all the major private insurers pay into, and the plan then issues policies to people who can’t get private ...

1 day ago · The California FAIR Plan, the insurer of last resort, received approval to assess member carriers $1 billion to help pay its L.A. fire losses -- with consumers possibly on the hook for nearly half.

1 day ago · 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 ...

Jan 22, 2025 · The California FAIR Plan, the state’s insurer of last resort, has reported a combined exposure of approximately $4.8 billion due to the Pacific Palisades and Eaton fires in the Los Angeles...

Jan 18, 2025 · 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...

Jan 14, 2025 · 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 ...

Jan 16, 2025 · The FAIR Plan provides nearly $6 billion of wildfire coverage in that area, among the highest totals in the state. At present, the California plan has about $377 million available to pay claims, with another $5.75 billion in reinsurance, The New York Times reported.