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The California FAIR Plan (California Fair Access to Insurance Requirements) is an fire insurance program created by the state of California that is used by property owners who cannot find private market insurance coverage. [1] [2] [3] The FAIR Plan was established in 1968 by a statutory amendment to the California Insurance Code (specifically ...
[A]n insurer may, under [California] Insurance Code sections 331 and 359, rescind a fire insurance policy based on an insured's negligent or unintentional misrepresentation of a material fact in an insurance application, notwithstanding the willful misrepresentation clause included in the required standard form fire insurance policy (Insurance ...
Lara emphasized people should call the California Department of Insurance. They have live operators on the phone that can help address your issues. You can contact them at 1-800-927-4357 or visit ...
California insurers will be required to sell coverage in wildfire-prone regions that have seen an insurer exodus in recent years, state Insurance Commissioner Ricardo Lara announced Monday. Under ...
It is a supplemental form of insurance meant to fill in the coverage gaps left by a FAIR Plan policy. It includes coverage for a wider selection of perils, like theft, and can provide liability ...
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.
That would mean that an insurer that has a 10% share of California's home insurance market would have to write 8.5% of the policies in such neighborhoods. The department released preliminary maps ...
The California insurance commissioner has been an elected executive office position in California since 1991. Prior to that time, the insurance commissioner was appointed by the governor. The officeholder is in charge of the California Department of Insurance. The current insurance commissioner is Democrat Ricardo Lara.
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