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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.
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. [7] 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. [8]
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.
The plan assessed its members $260 million for wildfire and earthquake costs, according to the state Department of Insurance, leading to the establishment in 1996 of the California Earthquake ...
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 Farmers Insurance Open is an annual professional golf tournament on the PGA Tour, held in San Diego, California. Founded in 1952, the tournament has been held at Torrey Pines Golf Course, a 36-hole municipal facility in La Jolla, since 1968. The tournament is held in the early part of the season known as the "West Coast Swing".
(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 ...
Pine Hills is an unincorporated community in San Diego County, California, [1] about a mile south and slightly west of Julian. It is located along and at the southern end of Pine Hills Road, about two miles south of state Highway 78. The residents of Pine Hills have an address in Julian in the 92036 zip code.