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(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 ...
Fire insurance has become more costly—if it's available at all—in California, leading more Golden State homeowners to turn to the FAIR Plan, a government-backed insurer of last resort.
[1] [2] [3] The FAIR Plan was established in August 1968 by a statutory amendment to the California Insurance Code (specifically, section 10091 et seq. [4] [5]), and is regulated by the office of the California Insurance Commissioner. The plans are typically more expensive and provide less coverage than commercial plans. [6]
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.
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.
Corporate travel management is the function of managing a company’s strategic approach to travel (travel policy), the negotiations with all vendors, day-to-day operation of the corporate travel program, traveler safety and security, credit-card management and travel and expenses ('T&E') data management.
Filed on behalf of more than 365,000 policy holders, the class-action lawsuit accuses the state's insurance of last resort of unlawfully selling subpar fire insurance policies.
The Palo Alto, California–based travel company, TripActions Inc., was founded in May 2015 by Ariel Cohen and Ilan Twig (also the founders of StreamOnce, acquired by Jive Software). [4] In January 2016, TripActions received $14.6 million series A round led by Oren Zeev Ventures and Lightspeed Venture Partners with participation from Group 11.