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The California FAIR Plan is an insurance program of last resort for homeowners in high-risk areas of the Golden State who are unable to obtain fire coverage in the private insurance market.
Homeowners have seen a rapid decrease in coverage options and a growing number are having to rely on the California FAIR Plan, a state-created private insurer of last resort.
The California FAIR Plan has seen a rapid rise in policyholders in recent years. Skip to main content. 24/7 Help. For premium support please call: 800-290-4726 more ways to reach ...
Its budget is primarily derived from funds generated by license fees, assessments, and Proposition 103 recoupment fees. The CDI licenses over 1,500 insurance companies and more than 320,000 insurance agents and insurance brokers in the state of California, United States. The current California Insurance Commissioner is Ricardo Lara.
The package also aims to move homeowners back onto the roles of commercial insurers and off the FAIR Plan, while improving the finances and coverage of the state's insurer of last resort.
The FAIR plan has about 375,000 policyholders, and the insurer’s total risk exposure was $311 billion as of December 2023; it was $50 billion in 2018. Read more: He claims to have saved ...
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