Overview

Amwins has teamed up with Vivere to introduce a new California FAIR Plan wrap product aimed at addressing the increasing number of commercial and dwelling risks that have been shifted to the state's insurer of last resort. This initiative seeks to fill significant coverage gaps for these risks.

The wrap product, developed by Vivere and exclusively distributed by Amwins, is intended to complement existing California FAIR Plan policies. It offers non-fire protection and additional coverage limits for portfolios insured under the FAIR Plan, which includes both commercial and residential properties.

Key details

  • Partnership between Amwins and Vivere to launch a California FAIR Plan wrap product.
  • The product targets coverage gaps for commercial and dwelling risks.
  • Designed to work alongside California FAIR Plan policies.
  • Provides non-fire protection and additional limits for FAIR Plan-insured accounts.
  • Applicable to both commercial and residential schedules.
  • Launch coincides with challenges in California's property market, including wildfire losses.
  • Regulatory constraints and capacity withdrawals by admitted carriers are impacting the market.
  • California FAIR Plan data indicates total exposure reached approximately $724 billion as of December 2025.
  • This represents a 230% increase since September 2022.
  • There has been a significant rise in dwelling and commercial policies in force during this period.
  • The FAIR Plan has become a primary property insurer as more risks are non-renewed in the voluntary market.
  • FAIR Plan policies generally provide basic fire coverage with residential limits capped at $3 million.

Context

The California FAIR Plan was initially intended as a market of last resort but has increasingly become a key player in the state's property insurance landscape due to the rising number of risks that are not being renewed or accepted by other insurers.

What happens next

As the new wrap product is rolled out, it will be crucial to monitor its uptake and effectiveness in bridging the coverage gaps faced by policyholders in California's challenging insurance environment.

What we don't know yet

Details regarding the specific terms of the wrap product, its pricing, and the anticipated impact on policyholders are not confirmed.