Frank purchased a building in a run-down area of a city. When Frank w

Frank purchased a building in a run-down area of a city.

When Frank was unable to obtain property insurance in the voluntary insurance market, an agent suggested that he contact a state pool created in the 1960s that makes property insurance available in riot-prone areas. The state pool the agent referred to is called a(n)
A) unsatisfied judgment fund.
B) FAIR plan.
C) guaranty fund plan.
D) assigned risk plan.

ANSWER

Answer: B