The
Massachusetts
Property Insurance
Underwriting Association (MPIUA or
FAIR Plan) is a state sponsored organization, subsidized by insurance
companies writing in Massachusetts. The MPIUA provides coverage
for coastal properties and other types of properties which most
insurance companies are unwilling to insure at standard rates. They
provide most standard coverages at affordable rates and with reasonable
deductibles.
The MPIUA does not have agents. All licensed brokers are required to
assist with coverage placement, or application may be made directly to
the MPIUA (800-392-6108). If you choose to deal direct with the MPIUA,
you may obtain the appropriate applications from the
MPIUA website. If you prefer our assistance, we must begin the application process well before the coverage effective date. The application and approval process can take weeks.
Applications are often initially rejected, requiring additional
information or details, and several resubmissions. Coverage is not
effective until the application has been accepted by the MPIUA and
payment made.
Since insurance brokers are not agents of the company, they do not have
authority to issue temporary “binders” or any other type of evidence of
insurance. Brokers can make no representation or assurance of
coverage.
When immediate coverage is necessary, it is possible for
applicants to handcarry an application to the Boston office for same
day coverage.
for more information:
www.mpiua.com