State's back-up insurance plan sees $30 million payout on Malibu fires. (Malibu, California)

From: Los Angeles Business Journal | Date: November 8, 1993| Author: | Copyright information

The California Fair Access to Insurance Requirement plan will "most likely" assess private insurers to help cover as much as $80 million in Southland fire claims -- believed to be the worst loss in the history of the state's high risk insurance pool, Stuart Wilkinson, general manager of the Fair plan, told the Business Journal last week.

Early estimates on the Malibu fire are that the Fair plan will pay out $30 million to $50 million for damages there. Wilkinson said he did not know how many homes damaged in the Malibu fire were insured by the Fair plan, but noted that the pool ...

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