PLNew Yorkeasy
Which New York entity is the FAIR Plan created by Insurance Law § 5401-5412 et seq. to provide basic property coverage to applicants unable to obtain it in the voluntary market?
NYPIUA — New York Property Insurance Underwriting Association
BNYAIP — New York Automobile Insurance Plan
CMVAIC — Motor Vehicle Accident Indemnification Corporation
DNYSIF — New York State Insurance Fund
Why this is the answer
NYPIUA — the New York Property Insurance Underwriting Association — is the state's FAIR Plan, established by Insurance Law § 5401-5412 et seq. It writes basic property coverage (fire, EC, V&MM) for applicants who cannot obtain it in the voluntary market, typically because of location or property condition rather than loss history. NYAIP is the auto residual market; MVAIC handles uninsured-motorist claims; NYSIF is the workers' compensation fund. Per NY Ins. Law § 5401-5412, NYPIUA is the statutorily created property residual mechanism.
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