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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. [5] 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. [6]
Asked about potential surcharges California homeowners might have to pay in the future, a FAIR Plan spokesperson told Fortune on Saturday, "the FAIR Plan cannot speculate about the future impact ...
The California Fair Access to Insurance Requirements, or FAIR, Plan was established in 1968 in order to provide insurance coverage to homeowners in high-risk areas, whether that means their ...
The problem of canceled policies has forced some homeowners to go without fire insurance or to use a program set up by the state — but without taxpayer support — called the California FAIR plan.
(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 ...
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 ...
As a result, many homeowners were forced to obtain coverage from the state’s insurer of last resort, the California Fair Access to Insurance Requirements (CA FAIR) Plan, which covered 1,430 ...
As a result, homeowners in Pacific Palisades had increasingly shifted to the FAIR Plan, with roughly 1,400 of the town's 9,000 homes covered by the plan in 2024, more than quadruple the number in ...