FAIR Was Meant to Counter Racism, Not Wildfires: Stephen Mihm

With the wildfires in Southern California finally contained, the finger pointing has begun — with much of the ire aimed at the state’s patchwork system of fire insurance. There’s special scrutiny of the so-called “FAIR Plan,” a state-run insurer of last resort that has only $377 million in reserves. There are growing fears that this backstop may need a bailout to cover the catastrophic losses.

FAIR, which stands for Fair Access to Insurance Requirements, has come to play a critical role in the state, as more private insurers have declined to provide coverage to homeowners living in areas susceptible to wildfires. ...