The Illinois FAIR Plan Association is a not-for-profit property insurance organization established in 1968, aimed at providing accessible property insurance to residents and property owners in Illinois who cannot obtain insurance through the standard market for reasons beyond their control. Known as a 'market of last resort,' the Association is supported by nearly 500 Illinois insurance companies. Its mission centers around ensuring that individuals who face challenges in acquiring insurance—due to environmental hazards or other discriminatory factors—can find coverage that suits their needs.
Currently, the Illinois FAIR Plan Association offers a variety of insurance products, including dwelling property, commercial property, and homeowners insurance across the state. Over the years, the organization has expanded its offerings significantly, transitioning from basic property insurance provided only in designated urban areas to comprehensive coverage solutions to meet evolving market demands. Despite having reduced its market share in the state, the Association continues to serve a vital role, particularly in providing solutions for responsible property owners during times of crisis, such as natural disasters or socio-economic changes.
Moreover, the Illinois FAIR Plan is recognized as one of the leading FAIR Plans nationally, thanks in part to its strong partnerships with the Illinois Department of Insurance and collaborative efforts with industry stakeholders. The organization is dedicated to educating consumers about the importance of property insurance, encouraging neighborhood revitalization, and engaging in initiatives that reduce the incidence of loss, particularly with regards to insurance fraud and related crimes. As market conditions fluctuate, the Illinois FAIR Plan remains committed to adapting its services and ensuring that those in need of insurance can find not only security but also fair access to essential property insurance.
