At least 30 states have created residual market plans that help consumers obtain property insurance when they are unable to obtain insurance from the private market. These plans include Fair Access to Insurance Requirements Plans, beach and windstorm plans, two state-run insurance companies in Florida and Louisiana and other underwriting associations. Known as insurers of last resort, how do these residual market plans work and how are they different from the private insurance market?
This webinar is hosted by the NCSL Banking, Financial Services & Insurance Standing Committee and the third in a 4-part series focused on Financial Services issues.
See the replays from the series here: