Posts Tagged: insurance industry

Opinion

FAIR plan: CA’s insurance rates haven’t kept pace with risks, costs

Homes destroyed during the Thomas fire in Ventura, 2018. (Photo: Joseph Sohm, via Shutterstock)

OPINION: Increasingly, California residents have been left with no choice but to accept the California FAIR Plan, the insurer of last resort, and the typically higher rates that come with it. The FAIR Plan provides basic fire insurance coverage when traditional insurance is not available, often for properties that other insurers decline to cover because they are considered high-risk.

News

Oral History Project: Clay Jackson

Clay Jackson, right, with his attorney, Donald Heller, in 1994 outside the federal courthouse in Sacramento. (Photo: Rich Pedroncelli/Associated Press

Clay Jackson was once the most powerful lobbyist in Sacramento, representing the insurance industry and overseeing hundreds of thousands of dollars in campaign donations to politicians. His firm billed $2 million annually. But Jackson wound up caught in the FBI’s undercover investigation of the state Capitol and he — along with 11 others — wound up going to federal prison.

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