Fair Access to Insurance Requirements Plan (FAIR)

Fair Access to Insurance Requirements Plan (FAIR),

Definition of Fair Access to Insurance Requirements Plan (FAIR):

  1. A plan instituted by the federal government, similar to stop loss reinsurance. If a property owner, whether commercial or residential, cannot obtain property insurance, he or she can apply to an insurance agent who works for a FAIR plan insurer. Should the property be found acceptable, he or she will be insured. If not, the company will suggest improvements to the property, and will insure it after the improvements are made.

Meaning of Fair Access to Insurance Requirements Plan (FAIR) & Fair Access to Insurance Requirements Plan (FAIR) Definition