A consumer advocacy group, Consumer Watchdog, has filed a lawsuit against California's insurance commissioner, claiming he overstepped his authority by allowing insurers to charge customers for $500 million in wildfire costs. This charge stems from an order to pay $1 billion to the state's FAIR Plan, intended to cover claims from recent deadly fires. Consumer Watchdog argues that this cost-shifting process bypasses legislative approval and could worsen California's ongoing insurance crisis, while state officials warn it may hinder access to insurance options for residents and businesses.
"We look forward to defending the rights and pocketbooks of Californians and stopping this socialization of FAIR Plan losses at the public's expense, while the FAIR Plan's profits will wholly remain with the insurance companies."
"This hurts homeowners, small business and nonprofits who need access to insurance options, while doing nothing to address the insurance crisis."
Collection
[
|
...
]