Keep a Watchful Eye on the CA FAIR Plan (Jan. ’25)

In an Assured Comment released on Jan. 24th, Assured Research described a number of features of the CA FAIR plan that might not be well understood. For instance, assessments by the Plan (should they be necessary) would be covered under most reinsurance contracts. But the ability of insurers to recoup the assessments in the form of higher rates is subject to the prior approval of the DOI.