FAIR Plan
Coverage of FAIR Plan in the Nexus archive.
- Wildfire risk drives 84% spike in California home insurance costs in 5 years, Stanford study finds
A Stanford study found California home insurance premiums increased by 84% over five years, driven by wildfire risk. High-risk fire zones saw the largest impacts, with more homeowners shifting to the state's costly FAIR Plan as insurers reduce coverage.
- California insurance commissioner race is set: Kim vs. Allen
Two Democrats, Jane Kim and Ben Allen, will compete in California's November insurance commissioner election. They will replace Ricardo Lara, who has served two terms, amid challenges like wildfire risks, insurance affordability, and claims delays.
- Massive rate hike coming as California insurance giant makes staggering revision
California's FAIR Plan is implementing a nearly 30% rate increase on homeowner insurance policies effective in October. The hike will impact hundreds of thousands of policyholders who are already facing financial hardship.
- As property insurance crisis worsens, some lawmakers target Big Oil
Lawmakers in California and two other states have proposed bills to hold oil companies accountable for climate change-related insurance costs, aiming to offset rising premiums and insurer losses. The bills, which did not pass this session, follow broader efforts to sue fossil fuel producers for climate damages, with some states using attribution science to assign costs.