California, FAIR and Insurance Commissioner

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 temporary supplemental fee on policyholders, according to a report from AM Best. The measure is intended to help maintain market stability and coverage availability, according to Insurance Commissioner Ricardo Lara.
California FAIR Plan's $1 billion bailout after L.A. fires
CNBC's Contessa Brewer joins 'Power Lunch' to report on California’s FAIR Plan that provides insurance to homeowners who can’t get private coverage needing $1 billion more to pay out claims related to the Los Angeles fires.
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.
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 insurance $1 billion bailout | On Your Side
Harvey Rosenfield, Consumer Watchdogs, talks about the California FAIR Plan’s $1 billion bailout and the plan to impose a special charge on homeowners and insurance companies to cover L.A. wildfire costs.
California Insurers Can Pass Half of $1B FAIR Plan Rescue Cost to Policyholders | Insurify
California's insurer of last resort for fire insurance says it needs $1 billion to ensure it can continue paying claims in the wake of the Palisades and Eaton wildfires. And State Insurance Commissioner Ricardo Lara approved the California FAIR Plan's request to assess insurance companies for the funds it needs.
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.
Bay Area homeowners likely to pay for California FAIR Plan insurance bailout
Bay Area homeowners likely will 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 wildfires.
California seeks $1bn from insurers to strengthen FAIR Plan
The decision was made to ensure the FAIR Plan can continue covering consumer claims following the southern California wildfires.
Wildfire victims file more than 4,400 claims with California’s FAIR Plan, home insurer of last resort
That’s enough to kick the plan’s strained finances further into crisis mode, increasing the chances that homeowners statewide will see insurance costs rise.
Californians Made to Pay More for Coverage to Help Bail Out Insurers
State regulators approved a $1 billion bailout of California's insurer of last resort so that it could continue paying claims.
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'It's a massive cleanup effort': FAIR Plan's wildfire surge sparks industry-wide alarm
“The FAIR Plan is suitable as the insurer of last resort,” he said, adding that while it provides coverage, it comes with ...
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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 ...
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California homeowners will likely share pain of LA fire losses
Virtually every homeowner in California may have to dip into their pockets to help cover the cost of January's Los Angeles wildfires, after the state's insurance regulator approved an industry-wide ...