As California’s wildfire insurance crisis drives homeowners to the state’s insurer of last resort, wealthy areas such as Beverly Hills, Malibu and Bel Air make up an increasingly large portion of the liability exposure — a dynamic that experts fear could bankrupt the program and undermine the private market.
Californians are subsidizing mansion wildfire insurance as FAIR risk explodes
As California’s wildfire insurance crisis drives homeowners to the state’s insurer of last resort, wealthy areas such as Beverly Hills, Malibu and Bel Air make up an increasingly large portion of the liability exposure — a dynamic that experts fear could bankrupt the program and undermine the private market.
1–2 minutes
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