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California Fair Plan

BUSINESS
June 1, 1996 | JESUS SANCHEZ and THOMAS S. MULLIGAN, TIMES STAFF WRITERS
Andy Andersen took the day off from work, drove himself and his wife all the way in from San Bernardino and then joined a long line of other anxious homeowners packed into the Mid-Wilshire offices of the California Fair Plan. But the Andersens weren't complaining Friday morning as they applied for insurance on the last day the state's insurer of last resort would accept most new applications for earthquake, fire and other kinds of basic homeowner coverage.
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BUSINESS
October 13, 1994 | THOMAS S. MULLIGAN, TIMES STAFF WRITER
In an effort to remedy the near meltdown of the California residential insurance market, Insurance Commissioner John Garamendi on Wednesday proposed selling stripped-down, stand-alone earthquake policies to all comers through the state's high-risk property insurance pool. The new policies are meant to plug gaps caused by the flight of most large insurers from the California homeowners market after the Northridge earthquake.
BUSINESS
June 23, 1994 | THOMAS S. MULLIGAN, TIMES STAFF WRITER
In an effort to block a potential meltdown of the California homeowners insurance market, Insurance Commissioner John Garamendi on Wednesday ordered the state's high-risk insurance pool to extend its residential earthquake and fire insurance statewide. Garamendi's action, which he called "strictly a stopgap, short-term measure," means that all homeowners will be able to buy at least bare-bones residential coverage even in areas considered at high risk for earthquakes.
CALIFORNIA | LOCAL
February 22, 1999 | SUE FOX, TIMES STAFF WRITER
Once again, orders to clear brush or suffer the consequences are causing a stir in the Santa Monica Mountains. This time, though, it's not the county Fire Department that is aggressively pushing new brush-inspection regulations--and a 57.2% hike in penalties for homeowners who fail to comply. It's the California Fair Plan, a state-regulated insurance pool that provides fire insurance in fire-prone areas.
BUSINESS
December 7, 1993 | DON LEE, TIMES STAFF WRITER
Facing claims of $150 million from the recent Southland wildfires, the California Fair Plan Assn. has assessed its 280 insurance-company members amounts ranging from $9,000 to $17 million, based largely on firms' market share in the state. But one disgruntled member, tiny Crusader Insurance Co. of Woodland Hills, is contesting its $325,000 bill and leading a fight to change Fair Plan's assessment policy, which Crusader calls unfair.
NEWS
June 1, 1996 | From a Times Staff Writer
As tough new restrictions take effect today on the state's Fair Plan for earthquake and homeowners insurance, a state lawmaker moved Friday to cancel the limits, which were ordered by state Insurance Commissioner Chuck Quackenbush. The Fair Plan is the state-operated insurer of last resort for homeowners unable to buy policies elsewhere. Under Quackenbush's order, the only new sales permitted will be in brush-fire and low-income areas where insurance has always been hard to buy. State Sen.
NEWS
May 23, 1996 | KENNETH REICH, TIMES STAFF WRITER
Saying a big earthquake could result in a broad default on paying claims, Insurance Commissioner Chuck Quackenbush on Wednesday ordered an end to most new sales of homeowners and earthquake insurance under the state's Fair Plan as of May 31. His action to restrict growth of the state's insurer of last resort for homeowners unable to buy through the regular markets is sure to increase pressure on the Legislature.
BUSINESS
November 3, 1993 | THOMAS S. MULLIGAN, TIMES STAFF WRITER
The California Fair Plan, an industry-sponsored insurer of last resort for homes in areas prone to brush fires, suffered a disproportionate share of the losses in the Altadena fire of last week and could be hit hard again by the fires sweeping Tuesday through the canyons of Calabasas and Malibu. Many fire victims with Fair Plan policies may lack the coverage to fully restore what they lost.
CALIFORNIA | LOCAL
July 19, 1987 | From Associated Press
Insurers are often reluctant to issue fire insurance policies to residents of such hard-to-protect areas as inaccessible canyons and brushy hillsides. Sometimes they refuse altogether to write a policy. But homeowners in high-risk areas can obtain fire insurance under the California Fair Plan, a clearinghouse set up by the state in 1968 under which more than 220 insurance companies take on assigned homeowners.
BUSINESS
October 10, 1994 | From Times Staff and Wire Reports
Earthquake Insurance Plan: The California Insurance Department will hold public hearings at its Downtown Los Angeles offices Wednesday and Thursday on Insurance Commissioner John Garamendi's proposal to use the California Fair Plan--the industry-supported pool for high-risk property insurance--as a mechanism to offer stand-alone earthquake policies. Nearly all of the major U.S.
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