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The plans are typically more expensive and provide less coverage than commercial plans. [5] If the FAIR Plan does not have the money to pay out all claims, it collects money from insurance companies that operate in California. [5] According to data from 2020, the FAIR Plan covers 2.5% of the statewide market share, but 20.4% of the market share ...
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 California FAIR Plan Assn., the state's property insurer of last resort, was born of smoldering ashes — not of a wildfire, but of one of the worst urban disturbances in U.S. history. The ...
The company stopped selling funeral policies in 2008 after multiple states began investigations and was forced to liquidate that same year by the Texas Department of Insurance. This case is far ...
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.
A California oversight agency held its second hearing on the state’s homeowner insurance issues Thursday. Like the first meeting, there was a conspicuous person absent: Insurance Commissioner ...
[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 ...
Planning a funeral can be an expensive prospect. The average funeral costs more than $7,000 and in many cases as much as $10,000 - or more, depending on the arrangements. Prepaid funeral plans ...