Lawmakers call for expanding California FAIR insurance plan

(The Center Square) – California lawmakers called Wednesday for the state’s “insurer of last resort,” the California FAIR Plan, to evolve to insure more properties throughout the state. The remarks come after years of the number of FAIR Plan policyholders climbing because of many private insurance companies declining to renew existing policies or pulling out of doing business in the Golden State altogether. This has pushed more and more homeowners in the state to turn to the California FAIR Plan. “I’ve kind of reached a point where I prefer to call the FAIR Plan ‘the California safety net’ than the ‘insurer of last resort,’” said Assemblymember Lisa Calderon, D-City of Industry and the chair of the Assembly Insurance Committee, during the panel’s meeting Wednesday. “I feel like the FAIR Plan is no longer the insurer of last resort. When the voluntary insurance market abandons our constituents, the FAIR Plan is there to pick up those policies.” There is a growing need to make sure the F