PLPennsylvaniaeasy
What is the primary purpose of the Pennsylvania Property Insurance Plan (PA FAIR Plan)?
To provide basic property insurance to PA residents who cannot obtain coverage in the voluntary market
BTo replace NFIP flood coverage for PA homeowners
CTo provide subsidized homeowners insurance to all PA seniors
DTo act as the guaranty fund for insolvent PA property insurers, paying outstanding claims of bankrupt carriers rather than offering new policies to applicants denied coverage in the voluntary market
Why this is the answer
The Pennsylvania Property Insurance Plan, commonly called the PA FAIR Plan, exists under 40 P.S. § 1600.101 et seq. to serve PA property owners who cannot obtain insurance in the voluntary market due to factors such as location, prior claims, or property condition.
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