California Fair Plan Legislation 2025 Changes. Key Statistics & Data The California FAIR Plan To maintain the FAIR Plan's ability to pay ongoing claims from policyholders impacted by the recent Southern California wildfires as quickly as it can, the FAIR Plan accessed reinsurance, and on February 11, 2025, the California Insurance Commissioner approved the FAIR Plan's request to issue a $1 billion assessment of admitted market insurers. 2025 CA AB226 (Text) California FAIR Plan Association
California Fairs Alliance Managers Conference from www.westernfairs.org
"This legislative proposal was originally introduced in the Legislature last year in the form of AB 2996 LOS ANGELES — Insurance Commissioner Ricardo Lara today announced a breakthrough agreement to modernize the California FAIR Plan Association (FAIR Plan), the state's "insurer of last resort," as part of his ongoing efforts to stabilize the California insurance market and address the insurance crisis.The move is part of his Sustainable Insurance Strategy, the largest insurance reform.
California Fairs Alliance Managers Conference
FAIR PLAN NEW BUSINESS HAS INCREASED The FAIR Plan's total NB in the first Quarter of FY2025 (October 2024 - December 2024) is 71,436, a monthly average of 23,812, reflecting an 34.2% increase in average monthly NB over prior FY2024 and a 336.2% increase over average monthly NB in September 2022 (Fiscal Year End 2021). To maintain the FAIR Plan's ability to pay ongoing claims from policyholders impacted by the recent Southern California wildfires as quickly as it can, the FAIR Plan accessed reinsurance, and on February 11, 2025, the California Insurance Commissioner approved the FAIR Plan's request to issue a $1 billion assessment of admitted market insurers. FAIR PLAN NEW BUSINESS HAS INCREASED The FAIR Plan's total NB in the first Quarter of FY2025 (October 2024 - December 2024) is 71,436, a monthly average of 23,812, reflecting an 34.2% increase in average monthly NB over prior FY2024 and a 336.2% increase over average monthly NB in September 2022 (Fiscal Year End 2021).
Home page The California FAIR Plan. Existing law establishes the California Infrastructure and Economic Development Bank Fund, a continuously appropriated fund, for the purpose of. Recent and Proposed Changes to the California FAIR Plan
California Fairs Alliance Managers Conference. Why All Homeowners Might See Increased Insurance Costs Bill Text (2025-03-05) California FAIR Plan Association