No. of Recommendations: 8
I'm sure BRK has a portion of the $2.5B reinsurance. Maybe $8B (+/- $2B) of fire exposure for FAIR, the insurer of last resort.
California's FAIR insurer of last resort has $2.5B of reinsurance. I'm sure BRK has a portion of that.
The FAIR Plan does not routinely disclose its financial condition. But in March, plan President Victoria Roach told California lawmakers that the plan had a $200 million surplus and an additional $2.5 billion in reinsurance that would pay claims when the surplus is exhausted.
In August, Roach told the San Francisco Chronicle that the FAIR Plan surplus was $350 million.
eenews.net - Every california homeowner could pay tab for la wildfires.
As an aside we all can see that consumers are paying the actual cost of these weather and fire events. It's effecting the middle class and fixed income groups very much.
