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A market assistance plan, is a temporary, voluntary clearinghouse and referral system designed to put people looking for insurance in touch with insurance companies. They are organized when something happens to cause insurance companies to cut back on the amount of insurance they are willing to provide.
Market assistance plans are generally administered by agents association, which assign insurance application to a group of insurers doing business in state. These companies have agreed to take their share of applicant's on a rotating basis.
Market assistance plans may be organized for a single line of insurance such as a daycare liability or home owners insurance or for a broad range of liability coverage. Homeowner insurance MAPs have been formed in several east coast states, including Connecticut and Texas among many others.
Market assistance plans are generally administered by agents association, which assign insurance application to a group of insurers doing business in state. These companies have agreed to take their share of applicant's on a rotating basis.
Market assistance plans may be organized for a single line of insurance such as a daycare liability or home owners insurance or for a broad range of liability coverage. Homeowner insurance MAPs have been formed in several east coast states, including Connecticut and Texas among many others.
