FAIR Plan (Insurance) - Definition
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FAIR Plan Is the Oregon rationingplan fair?, Daniels, N. (1991). Jama,265(17), 2232-2235. Theres a universal mandate from The Oregon Basic Health Services to access basic care. It includes rationing services to individuals who are recipients of Medicaid. With the absence of additional resources, the plan may make current Medicaid recipients worse, although still reduce the inequality between the poor and the rest of the society. No one may be worse off if resources are expanded and benefits given appropriate rankings. Although inequality may be reduced, other reforms might reduce it further. The fairness of the outcome depends on the extent of priority given by the believe justice requirement to the well-being of the poor. Fairvaluation of lifeinsuranceliabilities: the impact of interest rate guarantees, surrender options, and bonus policies, Grosen, A., & Jrgensen, P. L. (2000). Insurance: Mathematics and Economics,26(1), 37-57. A prevalent life insurance products the so-called participating (or with profits) policy is analyzed by this paper. In contrast to unit-linked (UL) products, this type of product stands in that interest is given to the policy periodically according to some systems that smooth past returns on the life insurance companys (LIC) assets. This paper shows the typical participating policy can be decomposed into a risk-free bond element, a bonus option, and a surrender option. A contingent claims analysis was used to construct a dynamic model whose elements can be valued separately. Is ActuariallyFair InsurancePricing ActuallyFair-A Case Study in Insuring Battered Women, Hellman, D. S. (1997). Harv. CR-CLL Rev.,32, 355. The bar, public, and legislators in 1995 started responding to a 1988 survey by insurers that shows that internal policy guidelines of almost half of the budget of the nations largest insurers gave instructions that life, health, and disability coverage be denied domestic abuse victims. The reaction gotten was a public outcry, legislative and industry action. There were voluntary modifications of their policies by some of these insurers. And this was to staff off regulation. Although, sixteen states have enacted the law that limits the ability of insurers to use the status of abuse victims in underwriting and rating decision-ten of these sixteen. FAIR Planand Excess Rate Plan Rates in Minnesota, Whitman, A. F., & Williams Jr, C. A. (1971). Journal of Risk and Insurance, 43-59. This paper analyzed Minnesota FAIR plan and Excess Rate Plan rates. This was analyzed according to the types of properties insured, the effect of occupancy and environmental factors, the extra charges and surcharges paid. The evidence suggests there might be some vastly underestimated internal hazards in the FAIR plan rates. In comparison with that of the ER plan of 131 percent, the difference in the average FAIR surcharge of 65 percent is too great to be explained by internal hazard differentials. This paper finally postulates that FAIR plan rates should be increased by correct preliminary national data and the objective of FAIRs plan solely which is to remove environmental hazards. AFair PlanApproach For Devolution Under The Twelfth Central Finance Commission: Some Suggestions, Pethe, A., & Lalvani, M. (2003). Department of Economics, University of Mumbai, Mumbai. This paper made some suggestions for the consideration of the Twelfth Finance Commission. A conceptual framework has been provided that contains eight cardinal principles. These principles are abbreviated as FAIR Plan. The framework was also operationalized and given a computational algorithm. Four states were used to illustrate the devolution scheme: Maharashtra, Tamil Nadu, Madhya Pradesh, and Bihar. The suggestion made on the scheme of devolution as been worked on to give complete flexibility to get the scheme modified at the eveery stage. A Fair and Equitable Plan of Corporate Reorganization under Section 77B of the Bankruptcy Act, Gerdes, J. (1934). NYULQ Rev.,12, 1. This paper deals with the plan for re-organization. Although this plan has always been, it should necessarily be, the plan for every corporate organization. Three recent changes to the bankruptcy only provide legal proceedings to makes this stand in form and also in substance. Cheeks v. CaliforniaFair PlanAss'n: Actual Cash Value Is Still Synonymous with Fair Market Value in California; Do the Courts Know What This Means, Palmer, J. L. (1999). W. St. UL Rev.,26, 183. There are claims as to what the California Standard Form Fire Service provides about the insurer. Although, actual cash value was not defined in the policy, yet there is no universally accepted definition. This has lead to diverse views about how a policyholder should be compensated by an insurer. This paper seeks to bring in the balances to objections and regularize the universal acceptability of what should be provided in the claim. FAIR PlanInsureds: Occupancy and Location Characteristics and Experience, Williams, C. A., & Smith, M. L. (1975). The Journal of Risk and Insurance,42(1), 156-162. The primary reason for the creation of a fair plan was to make insurance available to individuals who own properties in core urban areas with potential for riot and cannot get insured by individual insurers. Practically, the coverage has been extended beyond just core urban areas. This paper provides a comprehensive overview of this plan. Although, no accurate information was given on (a) the extent of the plan service for various locations and occupancies; (b) the loss experience of various companies. In conclusion, it makes observations of the present FAIR plan data and gives insightful future analysis. Bankruptcy: Municipal Debt Composition: Fair and Equitable Plan, Schauer, J. J. (1939). California Law Review, 740-743. Chapter 9 provides financially distressed municipality protection from its creditors while it works on a plan for adjusting its debts. Chapter 9 though similar to other chapters, its significant difference is that theres no provision in the law for liquidation of the asset of the distributor and municipality of the proceeds to creditors. Such dissolution would violate the Tenth amendments to the constitution. Chapter 9 lists the function of the bankruptcy case as it is in corporate reorganizations in chapter 11. The municipality may consent to have to make the court exercise jurisdiction in lots of traditional areas of court oversight in bankruptcy. This is to get the protection of court orders and remove the need for several forums to decide issues. FAIR Plan-Fair Access to Insurance Requirements, Bard, P. N., Birrittella, M., Bochan, T. G., Brown, T., Bryson, B. R., & Card, L. A. (1981). FAIR was originally implemented to combat arson. Operated by the insurance industry and then reinsured by the U.S. Department of Housing and Urban Development. Each participating state regularizes its domain. There have been observed abnormalities common fraud has been discovered making use of paper transaction using straw organizations. These practices have to lead to increases in insurance coverage and building deterioration. This paper explains and reveals the intricacies to these practices. MinnesotaFAIR Plan, POLICY, C. O. I. (2003). Minnesota FAIR Plan. This plans objective is to provide an orderly schedule of maturities and also maximize the returns of investments without undue risk. This paper further states: (a) the accounts for trading purposes; (b) prohibited actions and (c) exceptions to MN FAIR plans investment policy. Furthermore, the appropriate bodies to handle investments were stated which is MN FAIR plan Executive Director, authorized to buy, sell or engage in an exchange of securities. The safekeeping department will be responsible for all securities. This paper further gives a comprehensive overview of maturity scheduling and makes regulations on the general practice and applications of the FIAR plan. Insurance Assurance: TheFair Plan, Trice, H. N. (1968). U. Pitt. L. Rev.,30, 401. The Federal and State government responded to the absence of insurance protection to private and commercial properties owned in urban and suburban areas. The government has enacted significant legislation. Both state and private insurance industries have been aided by receiving assistance for riot losses. This paper described the federal legislation and detailed the Pennsylvania FAIR plan Act in addition to the FAIR plan. This legislation has been enacted by states and is complying to basic uniform plans to assure fair access to insurance requirements (FAIR plans)