03/18/2025
Clients are usually fearful about having to go to Fair Plan for their insurance, but it turns out that is not so bad after all because they may be the most financially stable company out there. They have the right to assess all the other registered companies in the state when their funds run low. Those companies if they run low are folding up and/or leaving the state!
Once thought of as a small, rarely-used backstop, the FAIR Plan is now one of the largest insurers in the state, and people without FAIR Plan insurance are the ones on the hook for the FAIR Plan's debt. Yet the FAIR Plan is still cloaked in secrecy.