California FAIR Plan Added Only About 2,200 Policies in Q3: Slowest Growth Since 2022
New data released by the California Department of Insurance on October 29 shows that the California FAIR Plan, the state's insurer of last resort, added only about 2,200 policies from July through September 2026, its slowest quarterly growth since 2022, a sign that residents in high-risk areas are gradually returning to the commercial insurance market.
In contrast to the FAIR Plan's slowdown, 12 homeowners insurers have committed to stay in California and expand their business, including seven of the state's ten largest homeowners insurers, while the number of rate filings awaiting review has fallen to its lowest level in decades. The department says this shows recent insurance market reforms are taking hold, with more Californians able to buy homeowners coverage from admitted commercial insurers instead of relying on the narrower FAIR Plan.
Insurance Commissioner Ricardo Lara said the FAIR Plan is meant to be a temporary last resort, and its slowing growth shows the commercial market is restoring supply. The department also noted that in high wildfire-risk communities the FAIR Plan remains the only option for some residents, and that reforms will continue. (Source: California Department of Insurance)
Source: California Department of Insurance
Published by GSM · USA (original Chinese edition)
Photo: 图片来源：野火逼近居民区（National Institute of Standards and Technology 摄，Wikimedia Commons，Public domain） / Image: Wildfire approaching a residential area, by National Institute of Standards and Technology, Wikimedia Commons (Public domain)
