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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. [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]
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 ...
SACRAMENTO, Calif. (AP) — California’s plan that provides insurance to homeowners who can’t get private coverage needs $1 billion more to pay out claims related to the Los Angeles wildfires ...
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 hook is also misleading, as the FAIR plan article states As of January 17, 2025, the FAIR Plan estimated that it covered 22% of the structures affected by the Palisades Fire, with a potential exposure upwards of $4 billion, and 12% of the structures affected by the Eaton Fire, with a potential exposure of over $775 million - however this ...
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.