PLIllinoiseasy
What is the primary purpose of the Illinois FAIR Plan established under 215 ILCS 5/Article XXXIII?
ATo provide subsidized auto liability coverage to high-risk drivers
To make basic property insurance available to Illinois owners unable to obtain it in the voluntary market
CTo reinsure flood losses for Illinois homeowners outside NFIP
DTo pay claims of insolvent Illinois property insurers
Why this is the answer
The Illinois FAIR Plan (Fair Access to Insurance Requirements) operates under 215 ILCS 5/Article XXXIII as the state's residual property market. It writes basic property insurance for owners who cannot secure coverage in the voluntary market due to location, condition, or loss history. It is not an auto plan (that is the IL Automobile Insurance Plan), not a flood reinsurer (NFIP handles flood), and not a guaranty fund (IIGF pays insolvent insurer claims).
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