The states so-called "insurer of last resort," which covers two out of every five home insurance policies on the Cape and Islands, is proposing a change in its wind-related damage coverage that could bump up rates across the state. The Massachusetts Property Insurance Underwriting Association, also known as the FAIR Plan, has proposed changing its wind deductible to a named-storm deductible, which would apply a lower deductible threshold to wind-related damage unless it results from a named tropical storm or hurricane, according to documents filed with the Massachusetts Division of Insurance.
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