L.A. consumer group calls FAIR Plan insurance reforms an industry bailout

A new law that could force homeowners across California to cover billions of dollars of insurer losses caused by a catastrophic wildfire is generating pushback from a leading consumer group, which has called it an industry bailout.

Lara said Friday in a release announcing the agreement that 'modernizing the FAIR Plan is a crucial step in our strategy to stabilize California's insurance market.' The FAIR Plan's financial risk is overwhelmingly due to its residential policies, which account for about 95% of its $393 billion in total loss exposure, according to the insurer.

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

latimes /  🏆 11. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

A farewell to Cedar Fair: Cedar Fair, Six Flags expected to finalize merger todayThe announcement of the historic merger came back in November of 2023.
Läs mer »