Sacramento Report: Rage Over State’s Fire Insurance Market Sparks Lawsuits

Sacramento Report: Rage Over State’s Fire Insurance Market Sparks Lawsuits

California’s troubled fire insurance market has pushed increasing numbers of homeowners onto the state’s high-risk FAIR Plan. In San Diego alone, FAIR Plan coverage quadrupled over the last few years. A pair of lawsuits filed against major insurers last week claim that was by design. Two lawsuits allege that the top 25 insurers conspired to eliminate standard insurance policies, in an effort to boost profits and shed risk. That left homeowners t…