The West Virginia FAIR Plan, formally known as the West Virginia Essential Property Insurance Association, commenced operating November 1, 1986, to make basic property insurance available to persons who have an insurable interest in real or tangible personal property located in West Virginia, and who have been unable to secure such insurance from the voluntary insurance market. The Plan was authorized by and created pursuant to Senate Bill 565 of the General Assembly of West Virginia, as later modified by S. B. 296 in the 1989 Legislative Session.

The West Virginia FAIR Plan is an association of the property insurance companies doing business in West Virginia. No Federal, State, or local funds are used to support or subsidize this Plan. It is administered by a Board of Directors appointed by the Insurance Commissioner. The Administrative Office of the FAIR Plan is located at 190 N. Independence Mall West, Suite 301, Philadelphia, Pennsylvania 19106.