What is BOSTON PLAN?

A plan where insurers agree that they will not reject property coverage on residential buildings in a slum area. Insurers agree to accept the coverage until there has been an inspection and the owner has had an opportunity to correct any faults. Boston was the first city to originate such a plan. Other cities have followed, including New York, Oakland, Cleveland and Buffalo.

More On This Topic



Link to This Definition
Did you find this definition of BOSTON PLAN helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary