Fair Plan

Fair Plan

A program in several American states by which the state government provides or subsidizes insurance on properties that otherwise would be uninsurable because they are in high risk areas. For example, a fair plan may insure a coastal property in a hurricane area. As with all insurance, the policyholder must pay a premium to receive the coverage.
References in periodicals archive ?
And even though some basic negotiations regarding the delivery of services might need to wait until after a secession vote, a fair plan for splitting up assets must be made beforehand.
QUOTES Tom Falkenbach - Chairman of the Beach and FAIR Plan Boards and Allstate Insurance Company's Field Product Manager for the Southeast Region "The issuance of this catastrophe bond is an important expansion of the NC Beach and FAIR Plans' hurricane loss financing capability.
But when the FAIR Plan exposures are added to those incurred by Beach and Windstorm Plans, such as those in place in states such as Alabama and Mississippi, the U.
Connecticut FAIR Plan of East Hartford represents the insurance industry in the contest, and has sponsored the luncheon and its entertainment offerings, savings bonds that are awarded to the winners, goody bags, certificates and printing costs for the fire prevention calendar.
The Massachusetts Property Insurance Underwriting Association, also known as the FAIR plan, has seen its market share on Cape Cod grow from 4 percent in 2000 to 40 percent in 2005.
Following the hearings, the state Legislature passed a bill in 1968 to create the New York State Fair Plan, which later was adopted by 26 other states.
devises a fair plan to share oil revenues among ethnic groups in Iraq;
7 /PRNewswire/ -- The Republic Group announced that Southern Insurance Company (Southern) has been selected by the Governing Committee of the New Mexico Property Insurance Program (the Program) to act as Servicing Insurer for the New Mexico FAIR Plan for a three-year period beginning January 1, 2009.
The jackpot was divided among 10 winning tickets and the California Fair Plan Group employees will divide their win of $2.
LA Citizens became the administrator for two existing plans - the FAIR Plan and the Coastal Plan.
The auto discount will include insurance policies for condominiums and rentals as well as for customers whose homes are insured by the Commonwealth's FAIR plan.