11+ hour, 21+ min ago (939+ words) Across the U.S., the number of homes covered by these so-called "insurers of last resort" has been steadily increasing for the past five years. FAIR plans were designed as a stopgap measure, but as climate change fuels stronger disasters, these insurers are increasingly relied on. Depending on the state, FAIR plans, which provide only bare-bones coverage, are either state-run firms or consortiums of private insurers with state oversight. They rely on premiums from policyholders to pay claims, but private insurers in the state also back them. At present, 32 states offer FAIR plans. California, along with Texas, North Carolina, Florida and Louisiana " states that have experienced significant disasters in recent years " collectively accounted for 84% of all FAIR planholders in 2024, industry data showed. They helped drive FAIR plan takeups to a record in 2023, and although the number of policies dipped the year after,…...