ABSTRACT
Fair plans are property insurance pools that sell to people who cannot buy coverage in the voluntary market because of high risks such as hurricanes. FAIR plans, which exist in 28 states and the District of Columbia, insure against losses from fi re, vandalism, riot, and windstorm losses. Some sell homeowners insurance that includes liability. Plans vary by state, but all require property insurers licensed in the state to participate in the pool and share in the profi t and losses in the same proportion the companies write voluntary business. Often an insured must show that the property has been turned down in the voluntary market.
