California FAIR Plan Warns Major Disaster Could Wipe Out Insurer Of Last Resort

CBS San Francisco

March 26, 2024

With more and more insurers pulling out of the state's fire insurance market, homeowners are being pushed into a program called the California FAIR Plan—an insurer of last resort for those in high-risk areas.

But the system is becoming overwhelmed and officials are warning that it may be on the brink of insolvency.

Catastrophic wildfires have turned areas that were never seen as high risk into places where fire insurance isn't even available.

Click here for the full story via CBS San Francisco

CBS Local Digital Media personalizes the global reach of CBS-owned and operated television and radio stations with a local perspective.