California Insurance Commissioner Ricardo Lara has announced significant reforms to the California FAIR Plan, the state's 'insurer of last resort', as part of a broader Sustainable Insurance Strategy aimed at stabilizing the state's insurance market. The modernization includes updated underwriting guidelines, expanded coverage options, and a new high-value commercial coverage plan with limits up to $20 million per building. These changes are intended to address the growing crisis in the homeowners insurance market, exacerbated by recent wildfire losses and regulatory challenges. Major insurers like State Farm and Allstate are increasing rates or exiting the market, pushing consumers towards the FAIR Plan, which has become a costly last resort. The American Property Casualty Insurance Association has expressed support for these reforms, highlighting their importance in restoring financial stability and access to coverage for Californians. However, some critics argue that the reforms unfairly shift the burden onto consumers, cautioning that the FAIR Plan may suffer if insurers continue to offload high-risk clients onto it.