Insurance Pools that sell property insurance to people who can’t buy it in the voluntary market because of high risk over which they may have no control. FAIR Plans, which exist in 28 states and the District of Columbia, insure fire, vandalism, riot, and windstorm losses, and some sell homeowners insurance which includes liability. Plans vary … Read moreFair Access to Insurance Requirements Plans (Fair Plans)
Federal agency in charge of administering the National Flood Insurance Program. It does not regulate the insurance industry.
Seven-member board that supervises the banking system by issuing regulations controlling bank holding companies and federal laws over the banking industry. It also controls and oversees the U.S. monetary system and Credit supply.
A reinsurance pool established for the Federal Employees Group Life Insurance program.
States where insurers must file rate changes with their regulators, but don’t have to wait for approval to put them into effect.
Name given to an insurance company based in one state by the other states in which it does business.
A reinsurer writing business in a state in which it is not domiciled (chartered).