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Somehow I missed this update on the proposed HO3 policy from the FAIR plan in California. [Currently its basically a very limited DP1 Fire policy.]
"In February 2020, the Los Angeles Superior Court imposed a preliminary injunction against the California Department of Insurance commissioner Ricardo Lara, ruling that the FAIR Plan cannot be compelled to issue a HO-3 policy. However, the court ruled that raising the dwelling coverage and creating a no-fee monthly payment plan can be upheld.13" Source: Corelogic.
At least this went through:" FAIR Plan will increase the combined dwelling coverage limit from $1.5 million to $3 million." Source Insurance Journal. And this as well: "policyholders to pay by credit card or electronic funds transfer without any fees."
If you know anything more, please share here. Thank You.
"In February 2020, the Los Angeles Superior Court imposed a preliminary injunction against the California Department of Insurance commissioner Ricardo Lara, ruling that the FAIR Plan cannot be compelled to issue a HO-3 policy. However, the court ruled that raising the dwelling coverage and creating a no-fee monthly payment plan can be upheld.13" Source: Corelogic.
At least this went through:" FAIR Plan will increase the combined dwelling coverage limit from $1.5 million to $3 million." Source Insurance Journal. And this as well: "policyholders to pay by credit card or electronic funds transfer without any fees."
If you know anything more, please share here. Thank You.
