LA Fires,
Insurance
May 29, 2025
As wildfire claims soar, FAIR Plan president warns lawmakers: Change or collapse
The head of California's insurer of last resort urged lawmakers Wednesday to pass a bill that would help reduce reliance on the state-run FAIR Plan. Amid a wave of devastating fires and a shrinking private insurance market, the plan's financial exposure has skyrocketed--threatening its stability and capacity to respond.
The leader of California's insurer of last resort came to the Assembly on Wednesday with what might seem like an unusual request: pass a bill to "depopulate" the FAIR Plan.
"We're going to have to get to a point where we can depopulate," FAIR Plan President Victoria Roach told the Assembly Insurance Committee. "I think everybody wants that. It is part of the sustainable insurance strategy."
She added that there needed to be a "m...
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