Fair Access to Insurance Requirements (FAIR) Plan: Protecting Property Owners in Colorado
What is the FAIR Plan?
The Fair Access to Insurance Requirements (FAIR) Plan is a program designed to provide property insurance coverage for homeowners and businesses when coverage is unavailable through traditional means. HB23-1288, establishing the FAIR Plan, was passed by the legislature and then signed into law by the Governor on May 12, 2023.
Why was the FAIR Plan created?
The FAIR Plan was created to address situations where insurance companies may refuse coverage due to high-risk factors, such as the property’s location or vulnerability to certain perils such as wildfires. It ensures homeowners and businesses in Colorado have access to insurance even in areas prone to natural disasters or other risks.
Presentations
October 24, 2024 FAIR Plan Presentation
May 27, 2025 FAIR Plan Agent Presentation
June 3, 2025 FAIR Plan Consumer Presentation
How will the FAIR Plan work?
- Coverage Availability: The FAIR Plan will provide up to $750,000 in property insurance coverage and up to $5 million in commercial property insurance to eligible individuals and businesses in Colorado.
- Policy Options: The FAIR Plan will offer property insurance policies that meet the requirements set by the Board in its plan of operations, ensuring fair and adequate coverage for policyholders.
- Premium Assessment: Member insurance companies share expenses, income, and losses based on their written premiums for property and commercial property insurance, ensuring a fair distribution of costs.
Benefits of the FAIR Plan
- Access to Coverage: The FAIR Plan will ensure that homeowners and businesses have access to essential property insurance coverage, even in high-risk areas.
- Financial Protection: Policyholders will gain financial protection against property damage or loss caused by covered perils such as wildfires.
- Stability and Peace of Mind: The FAIR Plan will provide a safety net to ensure Coloradans aren’t left without essential insurance protection for their property promoting stability and peace of mind.
- Fairness and Equity: The FAIR Plan operates on a fair and equitable basis, spreading costs among member insurance companies to prevent an undue burden on any individual insurer or policyholder.
What is the Current Status of the FAIR Plan?
Timeline for FAIR Plan Operations
HB23-1288 Fair Access to Insurance Requirements Plan (FAIR) Plan was signed into law by the Governor on May 12, 2023. The Board was to be appointed by the Governor no later than January 1, 2024.
At this time, Board members are appointed and meetings began on October 20, 2023.
Bryan Bernier has been elected Chair. Trina Markey has been elected Vice Chair.
A website has been established for the FAIR Plan. https://coloradofairplan.com/
The Board submitted a Plan of Operation to the Division and it was approved in July 2024.
The FAIR Plan is accepting applications for personal lines homeowner policies effective April 10, 2025.
Commercial property policies are expected to be available summer 2025.
Apply to Serve on the Board of Directors (ongoing)
The State of Colorado sought qualified individuals to serve on the Board of Directors. The Board is made up of representatives from insurance companies, consumer advocates, and industry professionals - see additional details below. Interested individuals must complete this application from the Colorado Office of Boards & Commissions. When applying, please indicate which of the seats listed below you are seeking to fill.
Though the Board is complete, we encourage you to apply as Board positions are staggered and ongoing. Your application will be reviewed as positions open.
By law, Board members must represent the following interests:
- Two individuals representing admitted mutual insurers writing property insurance in Colorado
- Jae Walker of Denver, Colorado, term expiring January 1, 2028
- Trina Markey of Fort Collins, Colorado, term expiring January 1, 2027
- Two individuals representing admitted stock insurers writing property insurance in Colorado
- Mark Woods of Larkspur, Colorado, term expiring January 1, 2027
- John Bonner of Castle Rock, Colorado, term expiring January 1, 2027
- One individual representing a Colorado-based insurance trade organization that represents insurers of various property interests;
- Carole Walker of Denver, Colorado, term expiring January 1, 2026
- One member representing a Colorado-based insurance trade association that represents independent insurance agents licensed to write property and casualty insurance in Colorado;
- Bryan Bernier of Morrison, Colorado, term expiring January 1, 2027 (CHAIR)
- One insurance producer licensed to write property and casualty insurance in Colorado
- Timothy Morgan of Carbondale, Colorado, term expiring January 1, 2028
- Two individuals representing the interests of consumers and, to the extent practicable, representing consumer advocacy organizations and diverse geographic areas of the state.
- Bradley Levin of Denver, Colorado, term expiring January 1, 2027
- Ellen Schaeffer of Castle Rock, Colorado, term expiring January 1, 2026
Board terms are for three years, except that, to ensure staggered membership, some of the initial appointments will be for one or two year terms.
For more information on the FAIR Plan progress and FAIR Plan Association Board, please contact the Colorado FAIR Plan Association at (833) 554-5425 or visit their website at https://www.coloradofairplan.com/
For more information about the FAIR Plan legislation, please contact Debra Judy (debra.judy@state.co.us) or Keilani Fleming (keilani.fleming@state.co.us).