What is the purpose of FAIR Plans (Fair Access to Insurance - ProProfs Discuss
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What is the purpose of FAIR Plans (Fair Access to Insurance Requirements)?



A. Give the federal government a major role in providing insurance
B. Make property insurance available to risks that were otherwise considered uninsurable because of environmental hazards
C. Require complete disclosure of the reasons for policy cancellations
D. Force all insurance companies to participate in an insurance pool

This question is part of Practise Exam 1
Asked by Wyatt Williams, Last updated: Jan 01, 2020

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1 Answer

John Smith

John Smith

Answered Jan 06, 2017

Make property insurance available to risks that were otherwise considered uninsurable because of environmental hazards

Essentially, a FAIR plan makes insurance available to risks that were previously considered uninsurable because of environmental hazards.
 

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