📢 Exciting News for HOAs in California!

California's FAIR plan is expanding its coverage to better protect high-value properties in wildfire-prone areas. 🏘️🔥 Now, commercial properties like condos can enjoy increased coverage limits—from $20M per location to $20M per building, up to $100M per location. This means more security and less financial strain for Homeowners Associations (HOAs). 

The agreement also defines how losses will be shared if the program exhausts its reserves.

In that scenario, the companies will be liable for half the cost of losses up to $2 billion in total claims—$1 billion for residential and $1 billion for commercial. If the insurance commissioner approves, the other half can be recouped from policyholders.