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California FAIR Plan secrets: Why the state's insurer of last resort is so secretive

Summary by CBS News
Once thought of as a small, rarely-used backstop, the FAIR Plan is now one of the largest insurers in the state, and people without FAIR Plan insurance are the ones on the hook for the FAIR Plan's debt. Yet the FAIR Plan is still cloaked in secrecy.

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California FAIR Plan secrets: Why the state's insurer of last resort is so secretive

Once thought of as a small, rarely-used backstop, the FAIR Plan is now one of the largest insurers in the state, and people without FAIR Plan insurance are the ones on the hook for the FAIR Plan's debt. Yet the FAIR Plan is still cloaked in secrecy.

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consumerwatchdog.orgconsumerwatchdog.org

KCAL-LA - Los Angeles, CA: Insurance Commissioner's Trip In Question

Most Californians, especially those currently trying to recover from tragedies, would hope the insurance commissioner would be here helping them recover from tragedies, not off in Bermuda.

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CBS News broke the news in on Tuesday, March 18, 2025.
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