Key Statistics & Data

Key Statistics & Data

Increasing risks due to climate-driven wildfires and a lack of adequate insurance rates have resulted in fewer coverage options available to consumers in the voluntary market. As more insurers have declined to provide new coverage or renew existing policies, more Californians have turned to the FAIR Plan for the basic property coverage they need.

 

The FAIR Plan updates the following information on a quarterly basis. Statistics and data represent the latest available information through March 2024. Please note March 2024 totals do not reflect the entire fiscal year, which covers October through September.

 

 

The FAIR Plan Faces Increased Exposure

As of March 2024 (partial fiscal year), the FAIR Plan’s total exposure is $340 billion, reflecting a 20% year-over-year increase.

 

 

Total Dwelling & Commercial Policies in Force (PIF)

Since 2019, Dwelling policies have increased by 137% and Commercial polices have increased by 116%, contributing to a 14% year-over-year increase in the total number of new FAIR Plan policies through March 2024 (partial fiscal year).

 

The FAIR Plan’s Highest Wildfire Exposures


 
 
 

Total Dwelling & Commercial Written Premium

Since 2021, Dwelling written premium has increased by 127.76% and Commercial written premium has increased by 301.28%. Since 2021, the total number of written premium has more than doubled through March 2024 (partial fiscal year).

FAIR Plan New Business

The number of new policies written by the FAIR Plan has shown a significant increase from 65,500 in 2022 to 89,995 in 2023, with 73,839 already recorded in the first two quarters of FY 2024.