What is the Definition of Beach And Windstorm Plans?

What is the Definition of Beach And Windstorm Plans?

State-sponsored insurance pools that sell property coverage for the peril of windstorm to people unable to buy it in the voluntary market because of their high exposure to risk. Several states offer these plans to cover residential and commercial properties against hurricanes and other windstorms. (See Fair access to insurance requirements plans/FAIR plans; Residual market)

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Insurance?

What is the Definition of Beach And Windstorm Plans?

What is the Definition of Beach And Windstorm Plans?

Check out other definition of insurance terms below:


What is the Meaning of INSURANCE REGULATORY INFORMATION SYSTEM/IRIS In Insurance Terms?

Uses financial ratios to measure insurers’ financial strength. Developed by the National Association of Insurance Commissioners. Each individual state insurance department chooses how to use IRIS.


What is the Meaning of INSURANCE SCORE In Insurance Terms?

Insurance scores are confidential rankings based on credit information. This includes whether the consumer has made timely payments on loans, the number of open credit card accounts and whether a bankruptcy filing has been made. An insurance score is a measure of how well consumers manage their financial affairs, not of their financial assets. It does not include information about income or race. Studies have shown that people who manage their money well tend also to manage their most important asset, their home, well. And people who manage their money responsibly also tend to drive a car responsibly. Some insurance companies use insurance scores as an insurance underwriting and rating tool.


What is the Meaning of INSURANCE-TO-VALUE In Insurance Terms?

Insurance written in an amount approximating the value of the insured property.


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