It means California property owners will likely be billed from their private insurers to help compensate the FAIR Plan.

Bay Area homeowners will likely be on the hook for helping bail out California’s insurer of last resort to the tune of $1 billion after it ran out of money to pay claims from the devastating Los Angeles wildfires.

As California grapples with a home insurance crisis, Insurance Commissioner Ricardo Lara is taking action he says will save California's insurance program of last resort, known as the FAIR Plan.