Overview

• The new laws allow the FAIR Plan to seek state-backed loans and bonds and to spread disaster claims payments over multiple years.
• January fires in the Los Angeles area destroyed more than 17,000 structures, leading to roughly $4 billion in FAIR Plan losses and about a $1 billion assessment on member insurers.
• The plan’s governing board will add two nonvoting legislative representatives to increase oversight and transparency, though they will not hold voting power.
• Coverage will now include manufactured homes, and the FAIR Plan must offer automatic payment options for policyholders.
• The Department of Insurance must consider additional home-hardening measures every five years under the Safer from Wildfires framework.