NCJUA - Fair Access to Insurance Requirements (FAIR Plan) Show The FAIR Plan was created in 1969 by the General Assembly to provide an adequate market for essential property insurance, with the mission to encourage property improvements and arresting the decline of properties within the state of North Carolina. The FAIR Plan is not a facility of North Carolina State Government; however, the Plan of Operation is subject to review and approval by the North Carolina Commissioner of Insurance.  The FAIR Plan offers, to any person having an insurable interest in property, full peril commercial fire and dwelling fire within the state of North Carolina excluding the beach area (defined as that area of North Carolina south and east of the inland waterway including the area known as the Outer Banks). The FAIR Plan is defined by North Carolina General Statutes as the "Market of Last Resort"; therefore, it is highly recommended that property owners attempt to obtain insurance in the standard market. Your Insurance Agent may assist you in placing coverage either in the standard market or in the FAIR Plan. Insurance products offered in the FAIR Plan are:
The Dwelling and Commercial Fire products provide coverage for windstorm and other perils such as fire, lightning, and vandalism and malicious mischief. These policy forms may be written on a replacement or actual cash value basis, subject to eligibility guidelines. Please note that contents coverage is only written under an actual cash valuation provision. The maximum residential limit of building coverage is $750,000, with a limit for personal property capped at 40% of the approved building coverage. The maximum commercial combined limit is $2.5 million; capped at a $6 million aggregate depending on fire wall divisions of the structure insured. If the coverage required exceeds the maximum building limit of the FAIR Plan, then excess coverage must be purchased to the full value of the property, prior to the FAIR Plan providing the primary coverage. You can find more information on the FAIR Plan via this website or you may contact your Insurance Agent, or call the Plan directly at 1.800.662.7048. NCIUA - Coastal Property Insurance Pool (CPIP) The Coastal Property Insurance Pool, formerly known as the Beach Plan, was created in 1969 by the General Assembly to provide an adequate market for essential property insurance, ensuring the economic welfare of the beach and coastal areas of North Carolina. The Coastal Property Insurance Pool is not a facility of North Carolina State Government; however, the Plan of Operation is subject to review and approval by the North Carolina Commissioner of Insurance. The Coastal Property Insurance Pool offers commercial, homeowner and dwelling windstorm coverage and homeowner coverage to any person having an insurable interest in property located in the 18 eligible coastal counties of North Carolina. The Coastal Property Insurance Pool also offers commercial fire and dwelling fire in a more limited area defined as the beach area (comprised of North Carolina south and east of the inland waterway, including the area known as the Outer Banks). The Coastal Property Insurance Pool is defined by the North Carolina General Statutes as the "Market of Last Resort"; therefore, it is highly recommended that property owners attempt to obtain insurance in the standard market. Your Insurance Agent may assist you in placing coverage either in the standard market or in the Coastal Property Insurance Pool. Insurance products offered in the Beach Plan are:
The Homeowner, Dwelling, and Commercial Fire products provide coverage for windstorm and additional perils such as fire, lightning, and vandalism and malicious mischief. These policy forms provide building coverage on a replacement or actual cash value basis, subject to eligibility guidelines. Please note that contents coverage is only written with a valuation of actual cash value. The Windstorm and Hail products offered must match as closely as possible the insured's primary insurance policy, providing the remaining coverages as it pertains to policy dates, limits of coverage, and policy form (i.e. DP 00 01, DP 00 02, HO 00 03). The eligibility for a Windstorm and Hail policy requires that the insured have an active primary coverage policy provided by an admitted carrier in North Carolina that has excluded windstorm. The maximum residential limit of building coverage is $750,000, with a limit for personal property capped at 40% of the approved building coverage. The maximum commercial combined limit is $3 million; capped at a $6 million aggregate depending on fire wall divisions of the structure insured. If the coverage required exceeds the maximum building limit of the Coastal Property Insurance Pool, then excess coverage above the limit provided must be purchased to the full value of the property, prior to the issuance of a primary policy by the Coastal Property Insurance Pool. You can find more information on the Coastal Property Insurance Pool via this website or you may contact your Insurance Agent, or call the Plan directly at 1.800.662.7048. What is the North Carolina insurance Underwriting Association responsible for?The North Carolina Insurance Underwriting Association (NCIUA), also known as the Coastal Property Insurance Pool, is a tax exempt association of insurance companies authorized to write and engage in writing essential property insurance coverage in North Carolina.
What is NC Joint Underwriting Association?MISSION STATEMENT - NCJUA The North Carolina Joint Underwriting Association, also known as the FAIR (Fair Access to Insurance Requirements) Plan, is a tax exempt insurer of last resort created by law to provide adequate basic property insurance to property owners having insurable property in North Carolina.
What is a beach Plan in insurance?The Coastal Property Insurance Pool, formerly known as the Beach Plan, was created in 1969 by the General Assembly to provide an adequate market for essential property insurance, ensuring the economic welfare of the beach and coastal areas of North Carolina.
What is the wind pool in North Carolina?The Coastal Property Insurance Pool offers commercial, homeowner and dwelling windstorm coverage and homeowner coverage to any person having an insurable interest in property located in the 18 eligible coastal counties of North Carolina.
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