Frank purchased a building in a run-down area of a city.When Frank was unable to obtain property insurance in the voluntary insurance market,an agent suggested that he contact a state pool created in the 1960s that makes property insurance available in riot-prone areas.The state pool the agent referred to is called a(n)

Question

Quizplus · Accepted Answer

The state pool that makes property insurance available in riot-prone areas is most likely the FAIR (Fair Access to Insurance Requirements) plan. This plan was created in the 1960s to provide coverage to property owners in high-risk areas who are unable to obtain insurance in the voluntary market. The other options, unsatisfied judgment fund, guaranty fund plan, and assigned risk plan, do not specifically address the issue of providing insurance coverage in high-risk areas.

Frank Purchased a Building in a Run-Down Area of a City.When