A group of property owners affected by January's wildfires is suing major insurers in California for alleged violations of antitrust and unfair competition laws. The lawsuits claim insurers, including State Farm, conspired to eliminate competition and force homeowners onto the California FAIR Plan. The plaintiffs argue that this collusion has led to unjust high premiums while depriving them of the coverage they need to recover from disasters. Legal representatives emphasize the reliance of homeowners on insurance for support during catastrophic events, stressing the dire consequences of the insurers' actions.
Representatives of the major insurance companies meet regularly to 'discuss issues that we would consider to be market issues,' including the administration of the FAIR Plan.
The complaints allege that, by colluding to push plaintiffs and so many like them to the FAIR Plan, the defendants have reaped the benefits of high premiums.
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