Berkshire Hathaway and Nephila Capital were among the largest capacity providers to the California Fair Plan at its recent ...
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FAIR Plan to assess insurers $1 billion for L.A. fires; consumers may be on the hook for nearly halfThe California FAIR Plan received approval Tuesday from the state's insurance commissioner to assess its member companies $1 billion to help pay its Los Angeles fire claims — with consumers ...
The recent Los Angeles wildfires have underscored the growing vulnerability of homeowners in the urban-wildland interface, ...
The California Department of Insurance said Tuesday they will allow the FAIR Plan, designed for Californians who can’t get coverage on the private market, to collect $1 billion from insurers ...
Since then, the FAIR plan has been inundated with claims for damage by homeowners who lost everything — and who had not been able to get coverage on the private market. To date, the plan has ...
California’s insurer for people without private coverage needs $1 billion more for LA fires claims
The FAIR Plan is an insurance pool that all the major private insurers pay into, and the plan then issues policies to people who can’t get private insurance because their properties are deemed ...
The Fair Plan last year only had around $2.5bn of reinsurance cover part-placed across a layer attaching at $900mn and ...
Also see: California homeowners will pay part of FAIR Plan’s $1 billion assessment A $1 billion assessment for California’s FAIR Plan, the state-mandated insurer of last resort, is expected to ...
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