FAIR Plan News

California Commissioner OKs FAIR Plan Coverage Options for Farms and Ag Businesses

California Insurance Commissioner Ricardo Lara on Friday approved the FAIR Plan to offer new commercial coverage for farm structure risks starting Feb. 1. The FAIR Plan is an association made up of all admitted insurance companies to be the state’s …

California DOI: Insurers Non-Renewed Fewer Homeowners in 2020, FAIR Plan Policies Increased

The number of California homeowners non-renewed by insurers fell by 10%statewide in 2020 compared with the previous year, as mandatory moratoriums by Insurance Commissioner Ricardo Lara made up more than 80% of the statewide reduction in non-renewals, according to a …

California Commissioner Orders FAIR Plan to offer More Commercial Coverage

California Insurance Commissioner Ricardo Lara on Friday ordered the FAIR Plan to implement his mandated increases to its decades-old commercial property coverage limits offered to businesses. “My order is part of an ongoing commitment to helping businesses in California thrive …

California Commissioner Orders FAIR Plan to Offer Increased Coverage

California Insurance Commissioner Ricardo Lara on Friday ordered the FAIR Plan to offer a homeowners policy, in addition to its current dwelling fire coverage, with more traditional homeowner features, such as coverage for water damage, theft, and loss of use. …

Judge Upholds California Insurance Commissioner’s Order to Expand FAIR Plan Coverage

A Superior Court judge has upheld the California Insurance Commissioner’s authority to order the California FAIR Plan to offer broader coverage options to consumers. Los Angeles Superior Court Judge Mary Strobel has upheld California Insurance Commissioner Ricardo Lara’s authority to …

California FAIR Plan Endorses Bill Expanding Coverage to Farms

The California FAIR Plan Association is publicly supporting a bill to amend the California Insurance Code to allow the FAIR Plan to write commercial coverage for permanent structures on farms. The California Fair Access to Insurance Requirements, or FAIR, Plan …

Should Upcoming California Commissioner’s Hearing on Wildfires Concern Insurers?

Insurance Commissioner Ricardo Lara will convene a “virtual investigatory hearing” on Monday to initiate a series of regulatory actions that will protect residents from the increasing risk of wildfires. Several years of destructive wildfires have made insurance expensive and difficult …

Insurance Consumer Advice for Buyers of High-Risk Homes: Liz Weston

When house hunting, the price of homeowners insurance probably isn’t top of mind. But homes with hidden risks can make getting coverage difficult, expensive or both. Learning how to identify them could save a homeowner a bundle. This could be …

Six Things to Know About the Recent Impasse Between Regulators and Insurers in the Aftermath of California’s Devastating Wildfires

This post is part of a series sponsored by CoreLogic. California’s 2017 and 2018 catastrophic wildfire events hit state insurers historically hard, with record-breaking losses of over $25 billion.1 2 Three years later, state regulators, utility companies, and insurers are …

California FAIR Plan Can Offer Only Fire Insurance, Judge Says

A fund that offers only fire insurance to California residents in wildfire-prone areas can’t be required to provide coverage for other hazards such as flooding or theft, a judge ruled this week. Superior Court Judge Mary Strobel this week issued …