What is the Washington FAIR Plan?
The Washington FAIR (“Fair Access to Insurance Requirements”) Plan was established in 1968 to provide basic property insurance to applicants who cannot obtain property insurance in the standard insurance market. Basic fire insurance coverage is available for both dwellings and commercial buildings. The FAIR Plan functions under the rules and regulations of Chapter 284-19 of the Washington Administrative Code. As such, the FAIR Plan is under the supervision of the Office of the Insurance Commissioner of the State of Washington, although it is not a state agency. The FAIR Plan does not receive any funding from taxpayers or the State of Washington.
All companies licensed to write property insurance in Washington are required to be members of the FAIR Plan Association. The FAIR Plan operates as a joint reinsurance association of its member companies. Every insurance producer licensed to write property insurance in Washington must assist consumers to apply to the FAIR Plan, if requested to do so. The FAIR Plan application must be signed by both the agent and the applicant.