# Stressed & Residual Markets > Florida's failures, reforms and Citizens depopulation; California's Prop 103, wildfire and FAIR Plan; auto plans; and the residual market as a system. A residual market is where risks go when the voluntary market won't take them at a price the law allows. Every state has one for auto (because auto liability is compulsory, someone has to sell it to every licensed driver), and most coastal and wildfire states have one for property: a FAIR plan, a beach or windstorm plan, or a state-created insurer like Florida's Citizens Property Insurance Corporation. In a healthy market they're small. When losses, reinsurance costs and regulated rates pull apart, they grow, sometimes to become the largest insurer in the state, and the cost of their deficits lands on every insurer and policyholder through assessments. Florida and California are the two markets that have tested this hardest in recent years, from opposite directions. Florida's homeowners market went through a wave of insolvencies amid rising claim litigation and reinsurance costs, and Citizens grew to 1.4 million policies before the 2022 and 2023 reforms and depopulation brought it back down. California's prior-approval system kept homeowners rates below what insurers said wildfire risk required, insurers pulled back in high-risk areas, and the FAIR Plan grew to nearly 700,000 policies before the state allowed catastrophe models and reinsurance costs into rates in exchange for writing commitments. This chapter covers both, the auto residual mechanisms and the property plans elsewhere, and what a residual market is as a system: eligibility tests against the voluntary market, participation by market share, depopulation, and assessments. The insolvencies themselves are [When Insurers Fail](https://www.syntaqx.com/books/insurance/when-insurers-fail#the-florida-liquidations); catastrophe models are [Catastrophe Models & Their Regulators](https://www.syntaqx.com/books/insurance/catastrophe-models); the Florida Hurricane Catastrophe Fund is [Cat Bonds, ILS & State Cat Funds](https://www.syntaqx.com/books/insurance/alternative-capital). ## How the Platforms Do It The residual markets publish their own numbers, as of the latest figures each had released by November 2026: | Market | What it is | Size | | --- | --- | --- | | **Citizens Property Insurance Corporation** (Florida) | A state-created insurer of last resort for property (Fla. Stat. 627.351(6)) | 215,397 policies in force on November 6, 2026, down from a peak of 1,407,805 on September 30, 2023 | | **California FAIR Plan** | An industry placement facility formed by insurers "to assist persons in securing basic property insurance" (Cal. Ins. Code 10091) | 698,307 policies in force in September 2026, up 157% since September 2022, with $773 billion of exposure | | **Texas Windstorm Insurance Association** | The coastal windstorm and hail plan (Tex. Ins. Code ch. 2210) | 252,433 policies in force and $4.3 billion of funding for hurricane season, per its site | | **Auto residual markets** (served by AIPSO) | Assigned risk plans, joint underwriting associations, reinsurance facilities and commercial procedures in 49 states and DC | $3.05 billion of residual premium in 2025, 0.68% of the $447.7 billion US auto market | | **PIPSO** | A national organization "supported by the FAIR and Beach plans" | 37 members, including 14 FAIR plans and 4 beach or windstorm plans by name (my count of its member list) | ## Florida ### How the Market Broke The Florida liquidations of 2019 to 2023 ([When Insurers Fail](https://www.syntaqx.com/books/insurance/when-insurers-fail#the-florida-liquidations)) took out nine insurers in under four years, most of them homeowners writers, and FIGA received 47,596 claims from the seven failures of 2022 and 2023 alone. Policyholders of failed and nonrenewing insurers went to Citizens, which by law takes risks the private market doesn't offer coverage for at a comparable price; it peaked at 1,407,805 policies on September 30, 2023. The legislature's response came in three pieces between May 2022 and March 2023. ### The Reforms **Reinsurance support.** The Reinsurance to Assist Policyholders program (RAP, Fla. Stat. 215.5551, created by ch. 2022-268 in May 2022) gave residential property insurers a $2 billion layer of reimbursement below their Florida Hurricane Catastrophe Fund retention, paying 90% of losses plus 10% for loss adjustment expense on the two largest events, funded by general revenue up to $900 million, for the 2022-2023 contract year with deferred participants in 2023-2024. SB 2-A's Florida Optional Reinsurance Assistance program (FORA, s.215.5552) followed for 2023-2024, with general revenue up to $1 billion and four optional layers priced at 50%, 55%, 60% and 65% rate-on-line; its own text set it to expire July 1, 2026 if no general revenue was transferred by June 30, 2026, and the 2026 Florida Statutes no longer show the section. **Claims and litigation (SB 2-A, December 2022).** Senate Bill 2-A of the 2022 Special Session A (ch. 2022-271, approved and effective December 16, 2022) barred assignment of post-loss benefits under residential and commercial property policies issued on or after January 1, 2023, allowed an additional post-hurricane market conduct examination, set conditions for policies with mandatory binding arbitration, and created FORA. HB 837 (ch. 2023-15, effective March 24, 2023) then limited fee shifting against insurers and amended bad faith law (Fla. Stat. 624.155: a 90-day safe harbor for tendering the lesser of policy limits or the demand, and "mere negligence alone is insufficient"). The claims side of both, and their effect on claim handling, belong to [Property Claims](https://www.syntaqx.com/books/insurance/property-claims) and [Bad Faith & Litigation](https://www.syntaqx.com/books/insurance/bad-faith-and-litigation). **Citizens.** The same period's legislation tightened who may stay in Citizens and how fast its rates move, below. ### Citizens: Eligibility, Rates and Depopulation Citizens' statute (Fla. Stat. 627.351(6), as in the 2026 Florida Statutes) makes it the market of last resort by comparing every risk against the private market: - **New business.** A primary residence is not eligible if a private insurer offers coverage, unless the private offer's premium is "more than 20 percent greater" than Citizens' premium for comparable coverage. - **Renewals.** Before April 1, 2023, any private offer at or below Citizens' renewal premium made a policy ineligible; for renewals from April 1, 2023, the same 20% test applies; for non-primary residences, from July 1, 2024. - **Takeouts.** For applications filed from January 1, 2023, a takeout offer (a private insurer's offer to assume the policy) makes a primary residence ineligible to stay unless the takeout premium is more than 20% above Citizens' renewal premium. - **Flood.** Citizens policyholders must carry flood insurance on a phased schedule: from April 1, 2023 (new business) and July 1, 2023 (renewals) in special flood hazard areas, then by dwelling replacement cost, from January 1, 2024 at $600,000 or more, January 1, 2025 at $500,000, January 1, 2026 at $400,000, and January 1, 2027 for all. - **The glide path.** Citizens' rates must move toward actuarially sound levels, with annual increases for an individual policyholder capped at 12% for 2023, 13% for 2024, 14% for 2025 and 15% from 2026 on. Depopulation runs through takeouts approved by the Office of Insurance Regulation: a private insurer selects Citizens policies it wants, sends offers, and assumes those whose owners don't opt to stay (or can't, under the 20% rule). Citizens' policy count shows the result: 254,836 at September 30, 2026 (196,317 personal residential multiperil, 54,528 personal wind-only, about 4,000 commercial) and 215,397 by November 6, 2026. In March 2026 Citizens announced 2026 rate decreases (an average of 8.8% for homeowners multiperil and 5.5% for wind-only, effective for new business July 1, 2026 and at renewal for existing policies), with its count then at 336,000, 76% below the peak. **When Citizens runs a deficit.** Citizens can charge its own policyholders a surcharge of "up to 15 percent of such premium," and beyond that levy emergency assessments on policyholders across most Florida property and casualty lines, capped at the greater of 10% of the deficit or 10% of statewide direct written premium (plus financing costs). The second is the reason a homeowner with a private carrier, or a business with a commercial auto policy, pays for Citizens' hurricane years: the residual market's deficit is socialized across the voluntary market. ### Worked Numbers: Citizens Eligibility and the Glide Path An illustration, my numbers. A primary residence renews with Citizens in 2026 at $4,000. Two private offers arrive: | Offer | Premium | Above Citizens | Eligible to renew with Citizens? | | --- | --- | --- | --- | | Takeout company A | $4,700 | 17.5% | No: not more than 20% greater, so the policy must go private | | Takeout company B | $4,900 | 22.5% | Yes: the owner may stay | The comparison must be on comparable coverage, so the system that runs it needs both quotes normalized to the same coverages, limits and deductibles, and the date of the offer against the dated rule (the 20% test for renewals applies from April 1, 2023; for non-primary homes from July 1, 2024). If Citizens' indicated rate for the same home is 35% above its current rate, the glide path's 15% annual cap from 2026 means the policy reaches the indicated rate in the third year: 1.15 × 1.15 = 1.3225 after two years, 1.15³ = 1.5209 after three (capped at 1.35). Each renewal is a capped step with the remaining gap carried forward, so the rating system stores the indicated premium beside the charged one. If a hurricane season leaves Citizens with a deficit, the first layer is its own policyholders: up to 15% of a $4,000 premium is $600. Emergency assessments on other lines follow if needed, collected by every insurer as a surcharge on its own policies and remitted. ## California ### Prop 103 and the Withdrawal California's homeowners crisis is a prior-approval story. Under Proposition 103 every rate change needs the commissioner's approval, with mandatory hearings on request above 7% for personal lines and consumer intervenors compensated by the insurer ([Filing Rates & Forms](https://www.syntaqx.com/books/insurance/rate-and-form-filing#california-proposition-103)). Until 2025, insurers could not use catastrophe model output for wildfire or include the cost of reinsurance in rates, so wildfire was priced on historical losses. As wildfire losses grew, the gap between the rates insurers could get approved and the risk they said they carried led to nonrenewals in high-risk areas and limits on new business, and the FAIR Plan, designed as a small backstop, took the overflow: 698,307 policies by September 2026, up 157% since September 2022 and 8% in the year, with $773 billion of exposure. ### The Sustainable Insurance Strategy The Department of Insurance's Sustainable Insurance Strategy, which it calls "the most significant insurance reform since Proposition 103 was passed in 1988" (summary dated October 14, 2025), traded rate methodology for availability: - **Catastrophe models in rates.** 10 CCR 2644.4.5, effective January 2, 2025, allowed catastrophe model output in rate filings for the first time; the department completed reviews of three wildfire models, available to all insurers. - **Reinsurance costs in rates.** A net cost of reinsurance regulation, finalized December 30, 2024, lets insurers include the cost of reinsurance attributable to California risk. - **The commitment.** Insurers using the models and reinsurance costs commit to write at least 85% of their statewide market share in wildfire-distressed areas the commissioner identifies; the first insurers to file early access plans were Mercury, CSAA, USAA, Pacific Specialty and California Casualty. - **Mitigation.** Discounts for homes meeting the "Safer from Wildfires" standards, and priority for mitigated homes leaving the FAIR Plan. - **The FAIR Plan.** Commercial limits raised to $20 million per structure (the department later described up to $20 million per building and $100 million per location). - **Process.** Intervenor reform and shorter rate review timelines. The net cost of reinsurance regulation's section number and effective date are not on the pages I could open. ### The 2025 Fires and the FAIR Plan Assessment The January 2025 Palisades and Eaton fires tested the FAIR Plan directly. On February 11, 2025 the commissioner approved its request for a $1 billion assessment on member insurers (Order No. 2025-1), against about $4 billion of expected losses, the first member assessment in more than 30 years (the previous was $260 million); members had 30 days to pay. Bulletin 2025-4, issued the same day, let insurers recoup 50% of their share from policyholders (100% of any part above $1 billion), through a temporary supplemental fee over two years that requires prior approval under Prop 103 and must be filed within six months of the assessment notice. FAIR Plan growth slowed afterward: the department reported second-quarter 2026 growth of 1.9% (12,305 net new policies), the slowest quarterly increase since 2022, as insurers began writing again under the new rules. ### Worked Numbers: A Member's Share of the Assessment An illustration, my numbers. A member insurer's share of FAIR Plan participation is 4%, so its share of the $1 billion assessment is $40 million. Under Bulletin 2025-4 it may recoup 50%, $20 million, through a temporary supplemental fee over two years. Spread over 500,000 California policies renewing each year, that's $20 million / (500,000 × 2) = $20 per policy per year. The fee is its own filing (prior approval), its own premium entry kind with an effective range, and its own reconciliation: collections against the $20 million cap, stopping when it's reached or the two years end. ### State Farm General The largest homeowners insurer's rate case shows the system under strain. On May 13, 2025 the commissioner approved an interim 17% homeowners increase for State Farm General (it had requested 21.8%), effective June 1, 2025, conditioned on a $400 million surplus note from its parent and no new block nonrenewals in 2025. A settlement announced March 6, 2026 kept homeowners at 17%, set rental dwelling at 32.8%, condominium at about 5.8% and renters at about 15.65%, and extended the nonrenewal moratorium at least a year; policyholders whose line settled below the interim rate (rental dwelling, from an interim 38%, and condominium, from 15%) were to be refunded the difference with 10% interest back to June 1, 2025. It required administrative law judge approval, which I have not found a primary source for. ## Auto Residual Markets Auto residual markets are older and quieter. AIPSO, a nonprofit serving them since 1973 in 49 states and DC, administers or supports four mechanisms: | Mechanism | How a risk is placed | Examples | | --- | --- | --- | | **Automobile insurance plan (assigned risk)** | Applicants are assigned to voluntary insurers in proportion to each insurer's share of the state's auto market; the assigned insurer issues and services the policy | New York Automobile Insurance Plan, Rhode Island, Kansas, Missouri, New Hampshire; California Automobile Assigned Risk Plan and its Low Cost program | | **Joint underwriting association** | A few servicing carriers issue policies on the association's paper; results are shared by all insurers | Florida Automobile Joint Underwriting Association; Hawaii Joint Underwriting Plan | | **Reinsurance facility** | Insurers must write every applicant but may cede the ones they don't want to the facility, whose results are shared | North Carolina Reinsurance Facility; New Hampshire Automobile Reinsurance Facility | | **Commercial automobile insurance procedure (CAIP)** | Commercial auto risks are placed with servicing carriers; results shared | South Carolina and other CAIP states | AIPSO's 2025 figures put the residual auto market at $3.045 billion of premium, 0.68% of a $447.7 billion market: $2.19 billion private passenger (0.59%) and $857 million commercial (1.11%). Three states dominate. North Carolina's reinsurance facility, which lets insurers cede risks rather than decline them, carried $1.695 billion, 14.1% of that state's market; Massachusetts $465 million (5.0%); New York $418 million (1.6%). The North Carolina number is the mechanism showing through: a reinsurance facility makes the residual market invisible to the driver, who buys from an ordinary carrier, so it can be large without anyone being turned away. ## Property Plans Elsewhere FAIR plans (Fair Access to Insurance Requirements) serve property owners the voluntary market won't; beach and windstorm plans cover coastal wind. PIPSO's member list includes FAIR plans in California, Colorado, Connecticut, Illinois, Iowa, Kentucky, Louisiana (Louisiana Citizens), Minnesota, Missouri, Ohio, Oregon, Texas, Washington and Wisconsin, and beach or windstorm plans in Alabama, Mississippi, South Carolina and Texas (TWIA). They share the Citizens and FAIR Plan structure: eligibility only after the voluntary market declines, rates meant not to undercut it, and deficits funded by assessments on member insurers, often recoupable from policyholders. TWIA, for one, reported 252,433 policies and $4.3 billion of funding available for a hurricane season. ## The Residual Market as a System Stripped of the politics, every residual market runs the same five processes, and an insurer participates in all of them: 1. **Eligibility against the voluntary market.** The plan accepts a risk only after the voluntary market declines or offers coverage above a threshold (Citizens' 20%), so the application carries declinations or competing offers, dated, on comparable coverage. 2. **Rating that isn't meant to compete.** Plan rates are filed and approved like any insurer's, with statutory constraints (Citizens' glide path caps) that make the indicated and charged premium different numbers. 3. **Participation by market share.** Each voluntary insurer's share of the plan's results, assessments or assigned risks is its share of the state's voluntary premium in the relevant lines, computed from statutory data (the State Page), usually with a lag. 4. **Depopulation.** Takeout offers move policies back to the voluntary market under approved programs, with consent and opt-out rules and the eligibility test applied at each renewal. 5. **Deficit funding.** Assessments on members (FAIR Plan), surcharges on plan policyholders and emergency assessments on the whole market (Citizens), each recoupable or not by its own rule, collected through every insurer's billing system. ## How to Build It This chapter adds an insurer's participation in residual markets and the depopulation offers it makes or receives; assessment surcharges reuse `guaranty_assessments`' pattern from [When Insurers Fail](https://www.syntaqx.com/books/insurance/when-insurers-fail#how-to-build-it): ```sql CREATE TABLE residual_markets ( -- the plans themselves id UUID PRIMARY KEY DEFAULT uuidv7(), name TEXT NOT NULL, -- 'Citizens Property Insurance Corporation' jurisdiction TEXT NOT NULL REFERENCES jurisdictions (code), kind TEXT NOT NULL CHECK (kind IN ('state_insurer', 'fair_plan', 'windstorm_plan', 'auto_assigned_risk', 'auto_jua', 'auto_reinsurance_facility', 'caip')), insurer_id UUID REFERENCES insurers (id), -- when the plan writes on its own paper lines TEXT[] NOT NULL ); CREATE TABLE residual_market_participation ( -- an insurer's share, per plan and period id UUID PRIMARY KEY DEFAULT uuidv7(), residual_market_id UUID NOT NULL REFERENCES residual_markets (id), insurer_id UUID NOT NULL REFERENCES insurers (id), period DATERANGE NOT NULL, basis_premium BIGINT NOT NULL, -- voluntary premium used for the share basis_source TEXT NOT NULL, -- 'annual statement state page, 2025' share_bp INT NOT NULL, -- 400 = 4.00% assigned_risk_quota INT, -- assigned risk plans credits JSONB NOT NULL DEFAULT '{}', -- takeout or voluntary writing credits UNIQUE (residual_market_id, insurer_id, period) ); CREATE TABLE residual_market_charges ( -- assessments and recoupment fees id UUID PRIMARY KEY DEFAULT uuidv7(), participation_id UUID NOT NULL REFERENCES residual_market_participation (id), order_ref TEXT NOT NULL, -- 'CDI Order 2025-1' amount BIGINT NOT NULL, recoupable_bp INT NOT NULL, -- 5000 = 50% under Bulletin 2025-4 recoupment_filing_id UUID REFERENCES regulatory_filings (id), recoupment_window DATERANGE, recouped_to_date BIGINT NOT NULL DEFAULT 0 ); CREATE TABLE depopulation_offers ( -- takeout offers, from either side id UUID PRIMARY KEY DEFAULT uuidv7(), residual_market_id UUID NOT NULL REFERENCES residual_markets (id), plan_policy_ref TEXT NOT NULL, -- the plan's policy number takeout_insurer_id UUID NOT NULL REFERENCES insurers (id), program_approval TEXT NOT NULL, -- the OIR approval or consent order plan_premium BIGINT NOT NULL, -- comparable coverage at renewal offer_premium BIGINT NOT NULL, comparable BOOLEAN NOT NULL, -- coverage normalized for the test threshold_bp INT NOT NULL, -- 2000 = "more than 20 percent greater" rule_ref UUID NOT NULL REFERENCES jurisdiction_rules (id), eligible_to_stay BOOLEAN GENERATED ALWAYS AS (offer_premium * 10000 > plan_premium * (10000 + threshold_bp)) STORED, offered_on DATE NOT NULL, response TEXT CHECK (response IN ('accepted', 'opted_out', 'no_response', 'ineligible_to_stay')), assumption_date DATE, new_policy_id UUID REFERENCES policies (id) ); ``` Notes: - **`eligible_to_stay` is the statute as a column:** the owner may stay only if the offer is more than 20% above the plan premium, computed in integer arithmetic so $4,800 against $4,000 (exactly 20%) correctly fails. - **Takeout policies are new business on the takeout insurer's paper** with their own `policy_transactions`, but the assumption date, the plan's policy number and the program approval stay on the offer so the history across both insurers can be shown. - **Recoupment fees are premium entries** of kind `assessment` (or a surcharge kind per order), each linked to the charge they recoup and stopping when `recouped_to_date` reaches the cap or the window ends. ## Auditing - **Every eligibility determination** with both premiums, the coverage normalization and the rule row in force on the offer date. - **Every depopulation offer** with the program approval, notice, the owner's response and the assumption. - **Participation shares by plan and period** with the premium basis and source. - **Every assessment and its recoupment,** from order to filing to the last policy charged, reconciled to the cap. - **Glide path steps:** indicated and charged premium at each renewal under a capped rate. ## What This Means for the System You Build - **Model residual market eligibility as a dated rule** comparing normalized offers, in integer arithmetic, with the threshold as data. - **Keep indicated and charged premium separately** wherever a statute caps rate movement. - **Compute residual market shares from statutory data** and keep the basis with each period's share. - **Treat assessments and recoupment fees as their own premium entries** with orders, filings, caps and windows. - **Carry the plan's policy number through a takeout,** so a policy's history spans both insurers. - **Expect the residual market to grow when rates and risk diverge,** and size billing, assessment and takeout processes for a surge, not the steady state. ## References **Law and regulation** - [Fla. Stat. 627.351](http://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0600-0699/0627/Sections/0627.351.html), Citizens' eligibility and 20% tests for new business, renewals and takeouts, the flood requirement schedule, the rate glide path, the 15% policyholder surcharge and the emergency assessment cap - [Fla. Stat. 215.5551](http://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0200-0299/0215/Sections/0215.5551.html), the Reinsurance to Assist Policyholders program: the $2 billion layer, 90% plus 10% LAE, the $900 million cap and contract years - [Fla. Stat. 215.5552 (2024)](https://www.flsenate.gov/Laws/Statutes/2024/215.5552), the Florida Optional Reinsurance Assistance program, its $1 billion cap, layers and sunset - [Florida Senate: SB 2-A (2022 Special Session A)](https://www.flsenate.gov/Session/Bill/2022A/2A), ch. 2022-271, effective December 16, 2022: FORA, the assignment of benefits bar, post-hurricane exams and arbitration conditions - [Florida Senate: HB 837 (2023)](https://www.flsenate.gov/Session/Bill/2023/837), ch. 2023-15, effective March 24, 2023: fee-shifting and bad faith changes - [Fla. Stat. 624.155](http://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0600-0699/0624/Sections/0624.155.html), the 90-day safe harbor and the negligence standard in bad faith actions - [Cal. Ins. Code 10091 (public mirror)](https://california.public.law/codes/insurance_code_section_10091), the FAIR Plan as an industry placement facility to assist in securing basic property insurance **Regulators and guidance** - [California Department of Insurance: Sustainable Insurance Strategy summary, October 14, 2025 (PDF)](https://www.insurance.ca.gov/01-consumers/180-climate-change/upload/Sustainable-Insurance-Strategy-CDI-Summary-10-14-25.pdf), the 85% commitment, catastrophe models, reinsurance costs, early filers, Safer from Wildfires, FAIR Plan limits and process reform - [California Department of Insurance: Order No. 2025-1 approving the FAIR Plan assessment (PDF)](https://www.insurance.ca.gov/0250-insurers/0500-legal-info/0700-commissioners-orders/upload/Order-No-2025-1-Approving-the-California-FAIR-Plan-Association-s-Request-to-Issue-Assessment.pdf), the $1 billion assessment, 30-day remittance and expected fire losses - [California Department of Insurance: Bulletin 2025-4 on recoupment of the FAIR Plan assessment (PDF)](https://www.insurance.ca.gov/0250-insurers/0300-insurers/0200-bulletins/bulletin-notices-commiss-opinion/upload/Bulletin-2025-4-Updated-Guidance-regarding-Insurer-Recoupment-Procedures-in-Response-to-Assessment-by-the-FAIR-Plan.pdf), 50% recoupment (100% above $1 billion) by a temporary supplemental fee over two years, prior approval, and the six-month filing window - [California Department of Insurance: release 015-2025](https://www.insurance.ca.gov/0400-news/0100-press-releases/2025/release015-2025.cfm), the first FAIR Plan member assessment in more than 30 years and the prior $260 million assessment - [California Department of Insurance: release 065-2024](https://www.insurance.ca.gov/0400-news/0100-press-releases/2024/release065-2024.cfm), the net cost of reinsurance regulation finalized December 30, 2024 and its writing commitment - [California Department of Insurance: release 038-2025](https://www.insurance.ca.gov/0400-news/0100-press-releases/2025/release038-2025.cfm), State Farm General's interim 17% homeowners increase and its conditions - [California Department of Insurance: release 012-2026](https://www.insurance.ca.gov/0400-news/0100-press-releases/2026/release012-2026.cfm), the State Farm General settlement terms and refunds - [California Department of Insurance: FAIR Plan growth slows below 2%, August 3, 2026 (PDF)](https://www.insurance.ca.gov/0200-industry/0105-alert/upload/FAIR-Plan-growth-slows-below-2-as-Californias-insurance-market-continues-to-show-signs-of-recovery.pdf), second-quarter 2026 growth and the high-value commercial limits - [California Department of Insurance: expanding coverage alert (2025)](https://www.insurance.ca.gov/0400-news/0102-alerts/2025/Department-of-Insurance-expanding-covera.cfm), 10 CCR 2644.4.5 effective January 2, 2025 and the three reviewed wildfire models **In practice** - [Citizens Property Insurance Corporation: Policies in force](https://www.citizensfla.com/policies-in-force), 215,397 on November 6, 2026, 254,836 at September 30, 2026 by line, and the 1,407,805 peak - [Citizens Property Insurance Corporation: 2026 multiperil rates to drop statewide, March 4, 2026](https://www.citizensfla.com/-/20260304-citizens-2026-multiperil-rates-to-drop-statewide), the 8.8% and 5.5% average decreases, their effective dates, and the 336,000 policy count - [California FAIR Plan: Key statistics](https://www.cfpnet.com/key-statistics-data/), 698,307 policies in force in September 2026, growth since 2022 and $773 billion of exposure - [Texas Windstorm Insurance Association: About us](https://www.twia.org/about-us/), policies in force and hurricane season funding - [AIPSO: About](https://www.aipso.com/LinkClick.aspx?link=65&tabid=37&portalid=0&mid=370), service to the auto residual market since 1973 in 49 states and DC - [AIPSO: Plan sites](https://www.aipso.com/Plan-Sites) and [frequently asked questions](https://www.aipso.com/FrequentlyAskedQuestions), the assigned risk, JUA, reinsurance facility and CAIP plans it supports - [AIPSO: Industry data](https://www.aipso.com/Industry-Data), 2025 residual premium and shares nationally and by state (files BD040 and BD047) - [PIPSO: Members](https://pipso.com/members/), the FAIR and beach plans that support it - [FIGA: 2025 Annual Report (PDF)](https://figafacts.com/wp-content/uploads/2026/07/2025-FIGA-ANNUAL-REPORT_FINAL.pdf), claims from the 2022 and 2023 Florida insolvencies --- Canonical URL: https://www.syntaqx.com/books/insurance/stressed-markets