The FAIR Plan's number of homeowner policies grew to more than 451,000 as of September 2024, an increase of 123% over the past three years.
As insurance companies cancel policies citing wildfire risks, the FAIR Plan's rapid growth illustrates a troubling trend in California's insurance market.
State Farm's decision to not renew tens of thousands of policies signals a drastic change in the insurance landscape, affecting thousands of homeowners.
With thousands of structures destroyed by the recent fires, the financial stability of California's insurance system is under immense pressure.
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