Browsing: FAIR Plan

In response to the recent California wildfires and ongoing insurance crisis, lawmakers are introducing various bills to address issues with the FAIR Plan and insurance premiums

Two law firms sue California’s largest insurers, alleging they colluded to drop customers and stop writing policies, pushing homeowners to the FAIR Plan.

Colorado introduces the FAIR Plan, a state-backed insurance program for homeowners unable to secure commercial coverage due to increasing wildfire and hailstorm risks.

The Massachusetts Property Insurance Underwriting Association, known as the FAIR Plan, has introduced a new policy change allowing homeowners to fully insure homes worth over $1 million through excess and surplus market coverage.

Consumer Watchdog’s lawsuit against California Insurance Commissioner Ricardo Lara has raised concerns about the stability of the state’s homeowner insurance market, potentially exacerbating an existing crisis in fire-prone regions.

Consumer advocacy group files lawsuit against California Department of Insurance and Commissioner Ricardo Lara to block potential hundreds of millions in homeowners insurance surcharges

Class action lawsuit claims insurance companies conspired to drop customers and force them into expensive state-backed insurance plans

Two lawsuits filed in Los Angeles allege major home insurance companies have colluded to limit coverage in California communities at high risk for wildfires, forcing homeowners onto the state’s last-resort insurance plan.

A consumer group has filed a lawsuit against California Insurance Commissioner Ricardo Lara to prevent insurers from passing on $500 million in FAIR Plan losses from Los Angeles wildfires to policyholders.

With its reserves already strained, California’s insurer of last resort may need another bailout as the state heads into the dry summer months.