2005 Minnesota Statutes - 65A.32 — Purposes.

     65A.32 Purposes. 


    The purposes of sections 65A.31 to 65A.42 are: 


    (1) to encourage stability in the property and liability 
 insurance market for property located in this state; 


    (2) to encourage maximum use, in obtaining property and 
 liability insurance, as defined in sections 65A.31 to 65A.42, of 
 the normal insurance market provided by the private property and 
 casualty insurance industry; 


    (3) to encourage the improvement of the condition of 
 properties located in this state and to further orderly 
 community development generally; 


    (4) to provide for an organization known as the Minnesota 
 FAIR plan, which will assure fair access to insurance 
 requirements in order that no property is denied property or 
 liability insurance through the FAIR plan due to the condition 
 of the property, except after a physical inspection of the 
 property and a fair evaluation of its individual underwriting 
 characteristics; 


    (5) to publicize the purposes and procedures of the FAIR 
 plan to the end that no one may fail to seek its assistance 
 through lack of knowledge of its existence; and 


    (6) to provide for the formulation and administration by 
 the Minnesota FAIR plan of a reinsurance arrangement whereby 
 property and casualty insurers share equitably the 
 responsibility for insuring insurable property for which 
 property and liability insurance cannot be obtained through the 
 normal insurance markets. 


    HIST: 1969 c 483 s 2; 1986 c 455 s 42; 1993 c 248 s 3; 1999 c 
 120 s 1; 2003 c 40 s 5