NCJUA / NCIUA
About NCJUA - FAIR Plan
What is the FAIR Plan in North Carolina?
Itís statutory name is the North Carolina Joint
Underwriting Association, and itís an association which,
as agents for the member companies, functions like an
insurance company making basic and broad property
insurance available to people who are not able to buy it
through the standard insurance markets. Created in 1969,
the Planís name (FAIR) stands for Fair Access to
Who operates the FAIR Plan?
A fourteen (14) member
Board of Directors (including
seven  representatives from the insurance industry,
four  licensed agents and three  from the general
public) acts as the FAIR Plan policymaking body. The
Plan is managed by a staff of professional insurance
people independent of any single insurance company. All
property and casualty insurance companies that do
business in North Carolina participate in funding the
Plan and sharing any losses or profits. The FAIR Plan is
not a facility of the North Carolina State government,
but its operation is subject to review by the North
Carolina Commissioner of Insurance.
Who buys insurance through the FAIR Plan?
Almost anyone can. However, most people wanting to buy
insurance on their properties can sometimes get broader
coverage, often at a better price, in the regular
competitive market. As a matter of fact, it is
recommended that an applicant try to buy insurance in
the standard market before coming to the Plan for
coverage. If they apply and their property meets basic
fire, loss prevention and reasonable underwriting
standards, the Plan will offer coverage.
There are reasonable standards, which must be met. These are basic things, which most people would have done already to make their properties safe and to eliminate substandard physical conditions. An inspection by independent vendor or the producer of the property is required for every policy issued. If that inspection reveals hazardous conditions, the property owner is told what they are and given time to correct them. Once that is done, coverage may be provided.
NCJUA / NCIUA
5520 Dillard Drive
Cary, NC 27518
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