Meeting Invoice 1680, often called the Make it FAIR Act, would mandate new transparency, governance, and protection necessities for the California FAIR Plan Affiliation, which has quickly expanded as non-public insurers pull again from wildfire-exposed areas. The FAIR Plan, created in 1986 as an insurer of final resort, has grown into one in every of California’s largest property insurers as main carriers (together with State Farm, Allstate, Farmers, Travelers, Chubb, Nationwide, and USAA) have stopped writing new enterprise or non-renewed present insurance policies in high-risk areas.
