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As a result, as the risk of wildfires grows, homes deemed too dangerous by major insurers have been piling up on the FAIR Plan’s books. Between 2020 and 2024, the number of homes covered by the plan more than doubled, to almost half a million properties with a value that tripled to about half a trillion dollars."
According to data from 2020, the FAIR Plan covers 2.5% of the statewide market share, but 20.4% of the market share in ZIP codes at high risk from wildfires. [6] Between 2020 and 2024, the number of homes covered by FAIR Plan policies more than doubled, while the Plan's total exposure (including commercial properties) nearly tripled. [7]
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. But as ...
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.
Currently, California homeowners in high-risk areas have few insurance options. Many have turned to the California FAIR plan, a private program established by the state and designed to be a fire ...
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Dave Jones was California’s state insurance commissioner from 2011 to 2019, and an early proponent of tying climate risk to the homeowners' insurance market. Jones said his former agency will ...
Upon the disbandment of the FEPC in 1945, California assemblymen Augustus F. Hawkins and William Byron Rumford (both members of the California Democratic Party) led the effort to pass fair employment legislation in the state. Hawkins drafted the initial legislative proposal in 1945, but would alternate with Rumford in introducing a fair ...