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's last-resort homeowners insurance plan seeks a $1 billion infusion from private insurers to help pay Los Angeles-area wildfire claims.
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.
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