Depopulating California’s FAIR Plan — What Are They THINKING?!?

Insurance Hour with Karl Susman (Audio Version)

Join your host, Karl Susman as he discusses the California insurance market, including the challenges with limited availability and high premiums, as well as potential solutions like the California Sustainable Insurance Strategy. Topics include the California FAIR Plan struggles handling increased volume, new catastrophe modeling and mitigation discounts, modernizing regulations to enable competition and stabilize the market, and clarifying umbrella policy coverages.
SHOW HIGHLIGHTS:
California Insurance Market Overview

The host introduces the insurance talk show for California consumers and provides background on the restricted insurance market, with 87% heavily restricted, driving limited availability and increased premiums.

California Sustainable Insurance Strategy

The strategy for reviving the California insurance market is outlined, including 5 key components: increasing availability, depopulating the FAIR plan, integrating catastrophe modeling and mitigation discounts, modernizing the FAIR plan, and improving overall market stability through updated regulations.

California FAIR Plan Challenges

Issues with the FAIR plan insurer of last resort are noted, like long wait times from limited staff and exponential premium increases from new catastrophe modeling approaches.

New Catastrophe Modeling

Usage of big data and AI for more granular location-based catastrophe risk modeling is discussed as a way to enable more discounts tied to wildfire mitigation steps.

Umbrella Policy Clarifications

Umbrella policy coverages are clarified as relating to liability only, with recommendations to purchase higher limits given large recent lawsuit rewards.

Insurance Hour is hosted by renowned insurance expert Karl Susman. Karl is a frequent guest on television stations such as ABC, CBS and FOX, and now his popular radio program is syndicated TO OVER 30 MILLION LISTENERS throughout California.
Listeners can now tune in to Insurance Hour on:
KMET AM1490 – Inland Empire – Friday 9-10am

KTRB AM860 – San Francisco – Saturday 7-8am

KION AM1460 — Salinas — Saturday 12-1pm

KEIB AM1150 – Los Angeles – Saturday 12-1pm

KCBQ AM1170 – San Diego – Saturday 1-2pm

KFBK AM1530 – Sacramento – Sunday 5-6pm

KZSB AM1290 - Santa Barbara - Wednesday 9:52am

KCAA AM1050 – Riverside – Thursday 7-8am

In addition to traditional radio, Insurance Hour has embraced the digital age.
The program is available on several popular streaming platforms, ensuring that listeners can access the show at their convenience.
Audiences worldwide can now enjoy Insurance Hour at InsuranceHour.com, on YouTube, Amazon Music, Tuneln, Alexa, Apple Podcasts, and the iHeartRadio app.
For more information about "Insurance Hour" and its programming, please contact Lara Starr at [e-mail]