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Homeowners in especially hard-to-insure areas may need to rely on their state's government-backed Fair Access to Insurance Requirements (FAIR) plan if they are unable to secure a policy in the ...
FAIR plans do not cover many perils that homeowners may need, such as personal liability or vandalism. This is the case for many homeowners in Florida due to flooding and California due to ...
Florida’s state insurance of last resort, known as the Citizens Property Insurance Corp., has become the largest property insurer there, adding about 11,000 new policies in the last two weeks ...
In 1820, there were 17 stock life insurance companies in the state of New York, many of which would subsequently fail. Between 1870 and 1872, 33 US life insurance companies failed, in part fueled by bad practices and incidents such as the Great Chicago Fire of 1871. 3,800 property-liability and 2,270 life insurance companies were operating in ...
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According to critics of the program, the government's subsidized insurance plan "encouraged building, and rebuilding, in vulnerable coastal areas and floodplains." [ 6 ] Stephen Ellis, of the group taxpayers for Common Sense , points to "properties that flooded 17 or 18 times that were still covered under the federal insurance program" without ...
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