Oh boy.
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Aaron Green
@AaronGuhreen
The California FAIR Plan (state insurer of last resort) has $5.9B of exposure in the Pacific Palisaded alone.
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To spell this out in layman’s terms. If FAIR is insolvent, we’re all going to pay for it: insurancenewsnet.com/oarticle/calif
We just got Farmers to start issuing more policies in the state again by allowing in catastrophic modeling but what are we going to do now? Everyone’s rates are going to be so high next year.
![David Watson 🥑](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="96" height="96"><rect fill-opacity="0"/></svg>)
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Her remarks are at 2:09 - not quite what she said, ~$1k is complete loss of Lake Arrowhead and $3,700 is the simultaneous loss of top 5 FAIR plan cities. Would be useful to see their methodology. assembly.ca.gov/media/assembly