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One alternative to the state’s fire and insurance crisis could lie with addressing the 15 million acres in California the United States Forest Service says requires forest thinning to become ...
[1] [2] [3] The FAIR Plan was established in 1968 by a statutory amendment to the California Insurance Code (specifically, section 10090 et seq. [4]), and is regulated by the office of the California Insurance Commissioner. The plans are typically more expensive and provide less coverage than commercial plans. [5]
In March 2024 State Farm, the largest home insurance company in California by market share, broke the news that it would nonrenew around 70,000 policies, 30,000 of which are estimated to belong to ...
The hikes would come from a potential assessment likely to be levied by California FAIR, the program set up by the state as the insurer of last resort for homeowners whose fire insurance has been ...
“The high wildfire risk in California has led to insurance companies withdrawing from underwriting policies in some parts of the state or limiting coverage for perils like wildfire, making it ...
Between 2020 and 2022, insurance companies declined to renew 2.8 million homeowner policies in the state, according to the most recent data from the California Department of Insurance.
The ongoing Palisades Fire is poised to become one of the state's costliest: Fire officials said Wednesday that more than 11,800 acres have been destroyed and that 1,000 structures have been ...
(The Center Square) - California homeowners may face noticeable insurance rate hikes under new rules finalized by state regulators that allow property insurers to use complex climate algorithms ...
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