California's last-resort home insurer is getting a $1 billion bailout. Homeowners could be on the hook for some of the bill.
The bailout will be funded by the state's private insurers, but a new rule says they they can pass up to half of the cost on to customers.
Bay Area homeowners likely to pay for California FAIR Plan insurance bailout
Bay Area homeowners likely will be on the hook for a share of a massive bailout of California’s insurer of last resort after it ran out of money to pay claims arising from the devastating Los Angeles wildfires.
California homeowners will pay temporary fees to help pay for wildfire insurance claims
California Insurance Commissioner approves $1 billion assessment to the FAIR Plan, the state's insurance safety net in light of SoCal wildfires
California’s insurer of last resort runs out of money to pay L.A. fire claims
In the aftermath of the Los Angeles fires, the FAIR plan gets a $1 billion bailout — the latest indication that California’s home insurance market is on shaky footing.
California seeks $1 billion from insurers to shore up FAIR Plan after LA fires
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 ravaged swathes of land in and around Los Angeles last month.
California Insurance Commissioner calls on insurance companies to bail out FAIR Plan
As California grapples with a home insurance crisis, Insurance Commissioner Ricardo Lara is taking action he says will save California's insurance program of last resort, known as the FAIR Plan.
California FAIR Plan's $1 billion bailout after L.A. fires
CNBC's Contessa Brewer joins 'Power Lunch' to report on California’s FAIR Plan that provides insurance to homeowners who can’t get private coverage needing $1 billion more to pay out claims related to the Los Angeles fires.
California’s backup insurance provider seeks $1B after wildfires. Policyholders could pay half
The California FAIR Plan on Tuesday was allowed to seek $1 billion from insurance companies that do business in the state in response to the Los Angeles wildfires — half of which could ultimately be covered by policyholders.
California homeowners will have to fund half of high-risk insurer’s $1 billion ‘bailout’
The plan will impose a special charge on homeowners and insurance companies to cover $1 billion in L.A. wildfire costs ...
California homeowners will pay part of FAIR Plan’s $1 billion assessment
California’s insurance commissioner approved a plan Tuesday, Feb. 11, to keep the state’s insurance of last resort solvent by ...
State insurance regulations limit options available to homeowners
Re “Home insurance was already hard to get. Then came L.A.’s fires.” (Jan. 19): Having trouble getting fire insurance? We can ...
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California faces insurance crisis as homeowners lose coverage amid extreme weather
Before thousands lost their homes in the recent Los Angeles wildfires, many had lost their insurance. Some residents found ...
State Farm asks for approval to increase California home insurance rates by an average of 22%
Citing the "dire" financial situation they're facing after the Los Angeles wildfires, State Farm General has asked California ...
Could homeowners statewide be charged a fee to help pay for LA wildfire insurance claims? Yes, but not yet.
The California FAIR Plan was the 'insurer of last resort' for many people who lost their homes in LA last month. The FAIR Plan now needs help paying those claims.
Newsom wants homeowners in burn areas to get interest earned on insurance payouts
Insurance payouts can accrue significant interest while the money sits in escrow during rebuilding, say proponents of a bill ...
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Insurance commissioner says homeowners in fire zones will likely be covered in event of debris flows
As what's expected to be the most powerful winter storm of the season begins to bear down on Southern California, many residents living in and around the recent burn areas are probably asking ...
LA wildfires highlight nation’s insurance crisis as homeowners try to recover lost homes
The nation’s growing home insurance crisis is in the spotlight as California homeowners begin the long road to rebuilding ...
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California homeowners will likely share pain of LA fire losses
Virtually every homeowner in California may have to dip into their pockets to help cover the cost of January's Los Angeles ...