California's insurer of last resort has potential exposure to LA wildfires of nearly $5 billion and reinsurance of $5.78 billion

(Credit: Agustin Paullier—AFP via Getty Images)

• The state's FAIR Plan has received 3,600 claims so far since wildfires ravaged the Los Angeles area, with potential exposure totaling nearly $5 billion across the Palisades and Eaton fire zones.

California's insurer of last resort offered fresh details on its potential exposure and available financial resources a week and a half after wildfires devastated the Los Angeles area.