California E&S Insurance

It is a bailout. Through assessment the government run FAIR Plan can take money from insurance companies that operate in California. Those same insurance companies can legally pass some of the assessment cost to policy holders. Homeowners who live in fire prone areas are getting bailed out by other homeowners that don't live in fire prone areas. In a normal market they would have paid higher premiums to prevent FAIR plan from going bankrupt or self-insure.

{
  "score": 0,
  "title": "",
  "subreddit": "California",
  "num_comments": 0,
  "scrape_method": "apify_targeted"
}