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According to data from 2020, the FAIR Plan covers 2.5% of the statewide market share, but 20.4% of the market share in ZIP codes at high risk from wildfires. [6] Between 2020 and 2024, the number of homes covered by FAIR Plan policies more than doubled, while the Plan's total exposure (including commercial properties) nearly tripled. [7]
Asked about potential surcharges California homeowners might have to pay in the future, a FAIR Plan spokesperson told Fortune on Saturday, "the FAIR Plan cannot speculate about the future impact ...
(The Center Square) - California’s fire insurer of last resort has long been on the brink of insolvency. Not only could FAIR customers — in the absence of a government bailout — face major ...
Like standard home insurance, California FAIR Plan premiums vary based on a number of rating factors. This includes the location, age and condition of the home, proximity to a fire station, the ...
The insurance that property owners turn to when everyone else turns them down has hit a new record. In February, the California FAIR Plan wrote more than 15,000 new policies, its president ...
The California Insurance Code (CIC) requires that the CDI provides licensing examinations for brokers and agents, and that the department must investigate suspected violations of the CIC by businesses and individuals who possess CDI licenses. The CDI also oversees the licensing of bail bond agents. The CDI also oversees the licensing of service ...
Nationwide, the number of FAIR Plan insurance policies nearly doubled between 2018 and 2023, rising to 2.7 million, according to data from AM Best, a company that rates the financial strength of ...
Some 450,000 homes - about 3% of all state residents - were covered through the California Fair Access to Insurance Requirements plan in September, a 40% increase from a year earlier.