California insurers set to charge homeowners for L.A. County fire costs
California homeowners will face average surcharges of about $50 as insurers recoup portions of a $1 billion FAIR Plan assessment tied to January wildfires.
New California law aims to stabilize homeowner insurance for people who can't get private coverage
California law lets the FAIR Plan seek state-backed loans and spread disaster claim payouts over years to avoid insolvency and insurer bailouts after major fires.
Insurer of last resort faces questions over smoke damage claims
"I've spoken with wildfire survivors who would rather lose their homes to flames than endure the stress and confusion of navigating smoke damage claims," said Insurance Commissioner Ricardo Lara in a statement. "This is unacceptable."
Judge rules California's FAIR Plan must pay smoke damage claims
Judge Stuart Rice remarked on the challenges faced by wildfire victims, stating that the 'unlawful language' of the FAIR Plan contributes to underpayments of smoke damage claims.