The Afternoon News with Kitty O'Neal

The Afternoon News with Kitty O'Neal

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After LA Fires, CA's Fair Plan Needs Money and CA Policyholders May Pay

By Kitty O'Neal, KFBK News Radio

Listen: Insurance Expert Karl Susman.

The state Insurance Department says the California Fair Plan that provides insurance to homeowners who can’t get private coverage needs $1 billion more to pay out claims due to the Los Angeles wildfires.

The FAIR Plan is an insurance pool that all the major private insurers pay into and those insurers may pass on some of that cost to all policyholders.

 

Insurance Expert Karl Susman

Los Angeles Recovers From Historically Devastating Wildfires

ALTADENA, CALIFORNIA - FEBRUARY 05: An aerial view of homes which burned in the Eaton Fire on February 05, 2025 in Altadena, California. U.S. President Donald Trump and California Gov. Gavin Newsom had an Oval Office meeting today discussing federal wildfire disaster relief and recovery assistance. Over 12,000 structures, many of them homes and businesses, were destroyed in the Palisades and Eaton Fires which are now 100 percent contained. (Photo by Mario Tama/Getty Images)Photo: Mario Tama / Getty Images News / Getty Images

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