California fire insurer of last resort to be bailed out by assessments on other insurers
California’s state-supervised fire insurance provider of last resort received approval to levy a $1 billion assessment on private insurers to ensure it can continue paying claims from the devastating January 2025 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's Insurer for People Without Private Coverage Needs $1 Billion More for LA Fires Claims
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
California’s High-Risk Insurer Gets $1 Billion Bailout After L.A. Fires
The move will likely lead to higher costs for households across the state, and may push more insurers to leave, intensifying a home insurance crisis.
California Levies $1 Billion Assessment on Insurers for LA Fires
The funds will help the state’s insurer of last resort pay claims to thousands of homeowners affected by the wildfires.
To Help Pay For LA Fires, California Will Collect $1 Billion From Insurers
California will collect $1 billion in special fees from insurance companies to make sure it can pay out Los Angeles fire claims filed with the Fair Plan, California's insurer of last resort, the state insurance commissioner said.
Southern California Braces for Storm Damage in Wildfire Areas
An intense storm could cause flooding and debris flows in areas burned by wildfires. Some residents have begun to evacuate.
Cal Fire begins releasing new state-mandated maps showing highest fire hazard areas
Cal Fire released updated fire hazard maps for dozens of cities and towns in inland Northern California. All but one saw an ...
Evacuation warnings issued in Southern California as heavy rain brings threat of mudslides in areas scarred by wildfires
For the second time this year, Southern Californians are evacuating their homes as heavy rain threatens new destruction in ...
New Cal Fire maps show Auburn increased its very high wildfire severity acreage in past decade
Cal Fire's new maps show Auburn increased its very high severity zone acreage to 800 this year compared to 326 acres a decade ...
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 ...
Welcome to California. Pay your fire tax.
It’s the first time ever such a surcharge, which Floridians already know as a “hurricane tax,” will hit Californians, and ...
Fire Chief: Super Scoopers, choppers work – but were grounded during fierce California wildfire winds
The familiar, water-dropping aircraft are leased by the fire department from Quebec each year to help fend off California ...
California's $1 billion LA wildfire bill highlights insurers' struggle, analysts say
California's levy of $1 billion on private insurers to help pay out wildfire claims in its state-created safety net program ...
New Cal Fire maps show more of Auburn is in a very high wildfire severity zone
Cal Fire's new maps show Auburn increased its very high severity zone acreage to 800 this year compared to 326 acres a decade ...
More than 2 million acres of local land in California designated high or very high fire danger areas
Reflecting intensifying wildfires and updated science, new state maps designate more than 2.3 million acres of local land in ...