Search results
Results from the WOW.Com Content Network
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]
The actual outcome will depend on the total damages and the current state of the FAIR Plan's finances. The numbers underlying Consumer Watchdog's predictions are grim.
In the Pacific Palisades, where State Farm recently canceled over 1,600 policies a few months ago, FAIR plan residential plans in the 90272 zip code grew 85% from 2023 to 2024.
The California FAIR Plan, the state's insurer of last resort, has received approval to assess its member carriers $1 billion to help pay its L.A. fire losses -- with consumers possibly on hook for ...
As of last Friday, the FAIR Plan had just $377 million available to pay claims, according to the office of Senator Alex Padilla, Democrat of California. It’s not yet known how much in claims the plan will face but the total insured losses from the fires so far has been estimated at as much as $30 billion.
Led by the United States Assistant Attorney General for the Civil Division, the Division's litigation reflects the diversity of government activities, involving, for example, the defense of challenges to presidential actions; national security issues; benefit programs; energy policies; commercial issues such as contract disputes, banking ...
The California Department of Justice is a statewide investigative law enforcement agency and legal department of the California executive branch under the elected leadership of the Attorney General of California (AG) which carries out complex criminal and civil investigations, prosecutions, and other legal services throughout the US State of California. [1]
(Reuters) - California Insurance Commissioner Ricardo Lara has requested $1 billion in additional funds from the commission's member insurers to shore up the state-backed FAIR Plan after wildfires ...