California Insurance Commissioner Ricardo Lara announced on Friday that the state's 'insurance of last resort,' the Fair Plan, will be safeguarded in the aftermath of the recent devastating fires. Lara emphasized the importance of ensuring the Fair Plan's financial stability while assisting affected residents in transitioning back to the regular insurance market.
Once the fires are contained, data will be collected from both the insurance industry and the Fair Plan to assess the situation accurately. Lara assured residents that officials are committed to supporting those impacted by the fires and encouraged them to reach out to the department with any inquiries they may have.
Recognizing the complexities of insurance, Lara reiterated the department's dedication to assisting individuals through the process. 'Insurance can be complicated,' Lara stated. 'We are here to help you.'
