
How Do Wildfires Affect FAIR Plan Insurance Claims?
If you are insured through the FAIR Plan and have been affected by recent wildfires, you may be wondering how your claim will be handled. The FAIR Plan is expected to process and pay claims as efficiently as possible. Here’s what you need to know:
How the FAIR Plan Handles Claims
The FAIR Plan has been advised to ensure they have sufficient capacity, adjusters, and resources to process claims quickly and fairly.
According to the latest information from the FAIR Plan and the Department of Insurance, they have the capital and capacity to pay all covered claims.
Ongoing Monitoring of the FAIR Plan
The situation is constantly evolving, and the Department of Insurance’s financial solvency experts are in regular communication with the FAIR Plan.
The Department is also monitoring other admitted insurance carriers in the affected regions to ensure stability.
FAIR Plan Modernization Efforts
The Commissioner’s FAIR Plan Modernization efforts include reforms that help maintain the financial strength and sustainability of the FAIR Plan.
Assessment reform measures have been put in place to ensure that the FAIR Plan remains solvent and capable of meeting policyholder needs.
Resources for FAIR Plan Policyholders
For more information about the FAIR Plan and filing a claim, visit:
California FAIR Plan: www.cfpnet.com
California Department of Insurance: www.insurance.ca.gov
Disaster Assistance & Recovery: www.disasterassistance.gov
If you have questions about your claim, reach out to the FAIR Plan directly or consult with the California Department of Insurance to ensure you receive the support and coverage you are entitled to.
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