The Rhode Island Joint Reinsurance Association

Name

The Rhode Island Joint Reinsurance Association

Legal name

Rhode Island Joint Reinsurance Association

Website

https://rijra.com

Company type

Private

Founded year

1968

Operating status

Operating

Headcount range

51–100 employees

Ownership category

akta.pro rank

Product category

Residual Market Property Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Homeowners Insurance (FSAJACAA)

akta.pro secondary industry

Landlord / Dwelling Fire (DP) Insurance (FSAJACAD)

Keywords

• Residual market property insurance
• FAIR Plan insurance
• Homeowners insurance
• Dwelling fire insurance
• Commercial property insurance

Headquarters

HQ city

Boston

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Insurance Premiums: RIJRA generates revenue through insurance premiums collected from policyholders under Homeowners, Dwelling Fire, and Commercial Property programs. Premiums are based on coverage amounts, deductibles, property type, and risk classification as defined in rate schedules.
2. Installment Processing Fees: The association charges service fees for premium installment payment programs, as referenced in historical service enhancements regarding installment program revisions and fee increases.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

The Rhode Island Joint Reinsurance Association (RIJRA), also known as the Rhode Island FAIR Plan, is the state-mandated residual-market insurer providing basic property insurance to applicants unable to obtain coverage in the voluntary market. It underwrites and services Homeowners (HO 00 02/03/05/08, HO 00 04, HO 00 06), Dwelling Fire (DP 00 01), and Commercial Property (CP 00 99) programs as approved by the Rhode Island Division of Insurance, distributed exclusively through licensed Rhode Island producers.

Product overview

The Rhode Island Joint Reinsurance Association (RIJRA) operates as a FAIR Plan insurer providing basic property insurance through three core insurance programs: the Homeowners Program (offering HO 00 02, 03, 05, and 08 owner forms, HO 00 04 tenant form, and HO 00 06 condo form), the Dwelling Fire Program (DP 00 01 Basic Form with optional Dwelling Liability DL-1), and the Commercial Property Program (CP 00 99). These programs are supported by specialized lead liability coverage modules for both personal and commercial lines. RIJRA provides policyholder access through self-service platforms including the Producer Portal for agents, the Insured Portal for policyholders, and the Mortgagee Renewal Portal for mortgage companies. The organization was founded in response to the Federal Urban Property Protection and Reinsurance Act of 1968 to provide insurance access for applicants unable to obtain coverage through the voluntary market.

Differentiator

Problem solved

Functional benefit

Products and services

• Homeowners Program Property insurance program for residential property owners offering Broad Form (HO 00 02), Special Form (HO 00 03), Comprehensive Form (HO 00 05), and Modified Coverage Form (HO 00 08) for owner-occupied 1-4 unit dwellings; Contents Broad Form (HO 00 04) for any residential unit; and Unit-Owners Form (HO 00 06) for owner-occupied condo units. Available through licensed Rhode Island producers to applicants unable to obtain coverage in the voluntary market.
• Dwelling Fire Program Basic property insurance for 1-4 unit dwellings and residential unit contents using DP 00 01 Basic Form, providing coverage without consideration of environmental conditions at the property's location. Available to applicants unable to obtain coverage through the voluntary market; base deductible $250 with optional deductibles from $100 to $2,500.
• Commercial Property Program Standard property insurance for commercial properties and apartment buildings with 5 or more units using Commercial Standard Property Policy Form CP 00 99. Building coverage limits of $250,000 for frame construction and $500,000 for masonry/fire resistive structures; contents coverage of $250,000 across all constructions. Base deductible $500 with optional deductibles up to $75,000.
• Dwelling Liability (DL-1) Coverage Optional liability coverage add-on for Dwelling Fire policies providing Coverage L (personal liability) with limits ranging from $100,000 to $500,000 and Coverage M (medical payments). Pricing varies by occupancy (owner-occupied vs. tenant-occupied) and selected limit.
• Personal Lines Lead Poisoning Coverage Lead poisoning liability coverage for personal lines policies (homeowners and dwelling) with separate premium structures for compliant versus non-compliant properties, including factors for Lead Free, Lead Safe, Independent Clearance Inspection, and Visual Inspection certification levels.
• Commercial Lines Lead Poisoning Coverage Lead poisoning liability coverage for commercial properties including apartment buildings, dwellings, and school dormitories with territory-based rating and increased limits factors.
• Producer Portal Self-service online portal for licensed insurance producers/agents to manage policies, submit applications using ACORD forms, process endorsements and cancellations, access real-time policy information, and conduct business with RIJRA. Supports commission direct deposit via ACH and includes Data Security Agreement and User Management features.
• Insured Portal Self-service online portal for policyholders to view policies, enroll in AutoPay automatic payments, opt for Paperless Billing, make premium payments, report claims, and access loss prevention resources. Integrated with Invoice Cloud for credit card, ACH, and electronic check payment processing.
• Mortgagee Renewal Portal Dedicated online portal for mortgage companies and lenders to access policy renewal information including insured name, property address, mortgagee(s), policy term, premium due, coverage amounts, and recent payment history, and to make renewal payments on behalf of borrowers.

Quantifiable outcome

• FAIR Plans operate in 28 states, District of Columbia, and Puerto Rico, demonstrating the established model for residual market property insurance

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core.

• Invoice CloudcoreTechnology or Integration · 20 January 2026Invoice Cloud provides the bill payment portal for RIJRA policyholders. Effective January 2026, the partnership enables AutoPay enrollment, Paperless Billing options, and online payment processing through the Insured Portal. This platform integration enables policyholders to pay premiums via credit card, ACH, or electronic check.
• Massachusetts Property Insurance Underwriting Association (MPIUA)coreStrategic or Co-development Partner · 18 November 1981MPIUA and RIJRA jointly sponsor the Arson Watch Reward Program, established November 18, 1981. The program provides monetary rewards for arson tip information leading to arrests and convictions. MPIUA and RIJRA collaborate on fire prevention education, juvenile fire prevention training, and public safety initiatives on behalf of all property and casualty insurance companies licensed in both states.
• Member Insurance CompaniescoreStrategic or Co-development PartnerInsurance companies required to be members of RIJRA under Rhode Island law. Members share in the reinsurance association's risk and responsibilities as defined in the Articles of Agreement. The Articles define rights and responsibilities of member companies required to participate under state law.

Scale indicators1 record

Recent moves5 records

Expansion highlights3 records

Direct peers

• New York Property Insurance Underwriting Association: New York's FAIR Plan offering basic property and personal lines coverage to applicants declined by voluntary insurers. Closely analogous residual-market mechanism to RIJRA, scaled to New York's much larger geography and property base.
• Maryland Joint Insurance Association: Maryland's joint insurance association providing basic property insurance as the insurer of last resort. Closely analogous structure (joint insurance association rather than independent corporation) to RIJRA's joint reinsurance association model.
• Citizens Property Insurance Corporation: Florida's state-created residual-market insurer, the largest FAIR Plan in the US. Operates under the same insurer-of-last-resort premise as RIJRA but for hurricane-exposed coastal properties; useful as a high-scale peer for residual-market economics and catastrophic-loss dynamics.
• California FAIR Plan: California's FAIR Plan Association providing basic property insurance to applicants unable to obtain coverage voluntarily. Direct structural analogue to RIJRA with growing exposure to wildfire and catastrophe losses.
• New Jersey Insurance Underwriting Association: New Jersey's FAIR Plan providing basic property insurance to applicants unable to secure voluntary-market coverage. Northeastern peer with comparable regulatory structure and coastal exposure profile relevant to RIJRA's coverage-gap thesis.
• Texas FAIR Plan Association: Texas's residual-market property insurer providing basic property coverage where voluntary-market insurance is unavailable. Comparable state-mandated pooled mechanism, with similar basic-property product set.
• Connecticut FAIR Plan: Connecticut's residual-market property insurance plan serving basic property insurance applicants unable to obtain voluntary-market coverage. Operates under a near-identical state-mandated FAIR Plan structure to RIJRA and serves a neighboring New England state.
• Louisiana Citizens Property Insurance Corporation: Louisiana's state-mandated FAIR Plan for property insurance residual-market coverage. Operates a similar mandatory-membership assessment model and shares the hurricane/windstorm catastrophic-loss profile RIJRA faces.
• Massachusetts Property Insurance Underwriting Association (MPIUA): Massachusetts's state-mandated FAIR Plan, structurally identical to RIJRA. Operates the same joint-association model, jointly sponsors the Arson Watch Reward Program with RIJRA (1981), and shares bill-payment services through the Invoice Cloud partnership. The closest peer by form, function, and operating model.

Broad incumbents

• Insurance Services Office (ISO) / Verisk: Verisk's ISO division provides advisory rate-of-risk, underwriting, and statistical services to insurers including residual-market associations like RIJRA. Adjacent incumbent enabling FAIR Plan operations through rate filings, statistical reporting, and risk-classification infrastructure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/rijra_fair_plan

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Rhode Island Joint Reinsurance Association