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Illustration: Annelise Capossela/Axios
The share of California homes insured through the state's FAIR Plan β a pricey insurer of last resort β has surged to roughly 5%, up from less than 2% in 2020, per a new Stanford study released this week.
Why it matters: The jump suggests California's insurance crisis is spreading well beyond wildfire-prone communities as private insurers continue to pull back coverage and raise costs across the state.
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