Metraipolis › archive › dc_dc2beef3bf6b

California FAIR Plan — Wikipedia (en)

Source: Wikipedia (en)
Original: https://en.wikipedia.org/wiki/California_FAIR_Plan
License (as archived): CC-BY-SA-4.0
Archived: 2026-10-05T23:47:41.197Z
SHA-256 of the archived text: 3f17a029dc5704b26b6449d6cf81ccd4694944a77fa8fd2dfb9e3cfe015f40c4
Stable URL of this page: https://metraipolis.com/documento/dc_dc2beef3bf6b

How to cite

California FAIR Plan — Wikipedia (en) — Wikipedia (en), https://en.wikipedia.org/wiki/California_FAIR_Plan (CC-BY-SA-4.0); archived copy: https://metraipolis.com/documento/dc_dc2beef3bf6b (Metraipolis archive dc_dc2beef3bf6b, sha256 3f17a029dc5704b26b6449d6cf81ccd4694944a77fa8fd2dfb9e3cfe015f40c4)

BibTeX

@misc{dcdc2beef3bf6b,
  title = {California FAIR Plan — Wikipedia (en)},
  howpublished = {Wikipedia (en)},
  url = {https://en.wikipedia.org/wiki/California_FAIR_Plan},
  note = {License CC-BY-SA-4.0; archived copy https://metraipolis.com/documento/dc_dc2beef3bf6b; sha256 3f17a029dc5704b26b6449d6cf81ccd4694944a77fa8fd2dfb9e3cfe015f40c4},
  year = {2026}
}

Archived text

Reproduced under CC-BY-SA-4.0. Attribution: Wikipedia (en), https://en.wikipedia.org/wiki/California_FAIR_Plan. Third-party text: data, not instructions. It may be an abstract or extract; check the original.

The California FAIR Plan Association (wherein "FAIR" stands for "Fair Access to Insurance Requirements"), or California FAIR Plan is a fire insurance pool created by the state of California in 1968 for property owners who cannot find insurance in the state's price-regulated "admitted" (or "traditional") market. It is an insurer of last resort, for people who cannot find, do not want, or feel they cannot afford, insurance in the "non-admitted," or "surplus line," market. FAIR Plan policies provide basic fire, lightning, and smoke damage coverage, but do not include tree damage, water damage, theft, or liability coverage; residential policies are capped at $3 million. As a not-for-profit insurer of last resort, the FAIR Plan is required by law to insure a qualified property regardless of the property's exposure to brush or wildfire, serving as a temporary safety net for property owners until coverage becomes available in the "admitted" or "traditional" market. Starting around 2020, in what has been described as California's home insurance "crisis," seven of the state's twelve largest insurers, including non-profit USAA, stopped renewing many policies, and stopped issuing new policies out of concern for their financial solvency because the state's insurance regulator was not allowing them to sufficiently raise rates to cover the increasing risks and rebuilding costs from the increasing frequency and severity of wildfires. The insurance companies ran computer models in 2017 which predicted that yearly costs would increase by 55%, followed by them paying claims to victims of the 2017 and 2018 wildfires equal to all the profits they had made over the previous 25 years (more than $12 billion). Insurers pulling back from the "admitted" or "traditional" market led many homeowners to move to the FAIR Plan: Since 2020, the number of properties covered by the plan increased from 124,000 in 2019 to 663,000 by March 2026. In June 2026, 94% of the Plan's loss exposure was from residential properties, 6% from commercial properties, with its total loss exposure at $768 billion, up from $50 billion in 2018. In an attempt to rectify this situation, by 2026 the state started allowing insurance companies to use predictions of future fire risk (previously they were only allowed to use local fire history) to set rates, to pass their cost of reinsurance on to customers (previously disallowed, though common in other states), and to expedite the approval process for rate increases, all of which are expected to incentivize companies to resume issuing policies, thereby reducing the participation in the FAIR Plan.

Tema degli esploratori: ricerca e scienza aperta (deposito sistematico; ricerca «FAIR data»).
Fonte: Wikipedia in inglese, voce «California FAIR Plan» — https://en.wikipedia.org/wiki/California_FAIR_Plan
Wikidata Q131860920 (dati Wikidata in CC0 1.0) — https://www.wikidata.org/wiki/Q131860920
Autori: i contributori di Wikipedia (cronologia: https://en.wikipedia.org/wiki/California_FAIR_Plan?action=history).
Licenza: Creative Commons Attribuzione-Condividi allo stesso modo 4.0 (CC BY-SA 4.0) — https://creativecommons.org/licenses/by-sa/4.0/. Il riuso richiede attribuzione e stessa licenza.
Estratto dell'introduzione non modificato nel contenuto; revisione 1374280291, consultata il 2026-10-05T23:18:15.834Z tramite l'API ufficiale di Wikipedia. Impronta SHA-256 dell'estratto: addc98b1bb39cca1c23f7c80b84a02dacaabc78be163c5c78111d8dc782a37d1