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