The California FAIR Plan, the “insurer of last resort,” has grown by over 140% since 2022 and currently faces over $720 billion in total risk exposure. New legislation introduced this month aims to modernize it:
- Comprehensive Coverage: A new 2026 bill (The Make It FAIR Act) aims to transform the FAIR Plan from a basic “fire-only” policy into a more comprehensive homeowners policy that includes water damage and liability coverage.
- Improved Transparency: The act enforces stricter accountability on how the FAIR Plan handles claims, particularly for smoke-damage disputes which have been a major issue for wildfire survivors.