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The Ohio Fair School Funding Plan and its predecessors from prior legislative sessions are the first major attempts at a large-scale overhaul in Ohio in decades. [ 2 ] Currently, the state’s education funding law is an attempt to “equalize education for all Ohio children, regardless of how rich or poor their community is,” according to ...
According to data from 2020, the FAIR Plan covers 2.5% of the statewide market share, but 20.4% of the market share in ZIP codes at high risk from wildfires. [7] Between 2020 and 2024, the number of homes covered by FAIR Plan policies more than doubled, while the Plan's total exposure (including commercial properties) nearly tripled. [8]
Under the plan, FAIR can seek a top-up from private insurance companies, which would in turn pass on the charge to customers. Now the major event that the group feared has occurred.
When this occurs, owners can apply for Fair Access to Insurance Requirements (FAIR) plans, state-mandated insurance policies for homeowners and businesses who can not secure property insurance by ...
Now, with the FAIR plan holding just $200 million in cash and facing nearly six billion dollars of exposure in the Pacific Palisades alone, every FAIR customer in the state could face an ...
Bride Rose Sweeney is a three-term Democratic member of the Ohio House of Representatives for Western Cuyahoga County, serving as Ranking Member of the Ohio House Finance Committee and the lead Democratic sponsor of the bipartisan Fair School Funding Plan that became law on July 1, 2021.
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It was created under the authority of section 121.02 of the Ohio Revised Code (ORC) and is administered by the Director of Insurance. Insurance companies operating in the state of Ohio are subject to regulation under Title 39; and depending upon the entity of the organization, Chapters 1751 and 1753 of the ORC. ODI is charge with seeing that ...
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