An acronym for Fair Access to Insurance Requirements, these plans have been established in many states to make fire and extended coverage (and homeowners in some states) available in areas otherwise not addressed by the voluntary market.
An acronym for "Fair Access to Insurance Requirements," FAIR offers insurance to people in high-risk areas who might otherwise be denied coverage. Reinsured by the United States government, FAIR is a pooling plan providing policies for fire and allied perils.
The Fair Access to Insurance Requirement Plan is a program established to provide access to insurance for property owners in areas that most insurers will not insure; examples include flood prone areas or beachfront properties.
Program established by law that makes Property insurance available to insureds who might otherwise be uninsurable in the standard market. Stands for fair access to insurance requirements.
A facility, operating under a program of the government and the insurance industry, to make fire insurance and other forms of property insurance readily available to persons and businesses for whom such insurance is not easily available or affordable.
A program to provide "fair" access to insurance requirements" for property owners who experience difficulty in buying insurance on property located in blighted or deteriorating urban areas. Basically the plan assures a property owner of physical inspection of property, and a promise to provide fire and allied lines Insurance if the property is adequately maintained and if recommended improvements necessary to make the property insurable have been made. Many of these plans have been extended to cover statewide in those states adopting them.
Fair Access to Insurance Requirements. A pooling plan reinsured by the United States government that makes insurance available to those in inner-city or other high risk areas who cannot obtain insurance through normal channels. Coverages for fire and allied perils is available, with considerably high limits, after inspection of the premises.
See Fair Access to Insurance requirements.
The Fair Access to Insurance Requirement Plan is a program established within a state to provide access to insurance for property owners in areas that are generally not insurable by most insurers; examples include specific beach and windstorm areas.
A facility, operating under a government-insurance industry cooperative program, to make Fire Insurance and other forms of property insurance readily available to persons or in locations that have difficulty obtaining such coverage.