B.__Do all things necessary to enable the State and the association to fully participate in any federal program of reinsurance that may be enacted for purposes similar to the purposes of this section;

C.__Require such reports from the association concerning risks insured by the association pursuant to this section as may be considered necessary;

D.__Adopt policy forms, endorsements, rates and rating and rule manuals for use by the association; and

E.__Establish a consumer education program designed to increase the ability of consumers to differentiate among different products and providers in the property and casualty market.

15.__Rules.__The superintendent may adopt rules to implement this section.__Rule adopted pursuant to this subsection are routine technical rules as defined in Title 5, chapter 375, subchapter 2-A.

SUMMARY

This bill provides that the Superintendent of Insurance may establish a Fair Access to Insurance Requirements Plan, or FAIR Plan, under certain circumstances, if the superintendent determines, after a public hearing, that in all or any part of the State residential property insurance is not reasonably available in the voluntary market to a substantial number of insurable risks. The FAIR Plan would be developed and administered by the FAIR Plan Association, a nonprofit association appointed by the superintendent that includes members from the insurance industry and the public. The FAIR Plan Association would develop and administer a program for participation by all licensed insurers writing residential property insurance in this State that would make residential property insurance available to applicants in underserved areas whose property is insurable in accordance with reasonable