What was the main purpose of establishing FAJUA in 1973?

The Florida Automobile Joint Underwriting Association (FAJUA) was established in 1973 primarily to assist individuals who cannot obtain automobile insurance through the standard, admitted market. The creation of FAJUA came in response to a significant number of drivers who experienced difficulties in securing coverage due to various reasons such as a poor driving record or lack of insurance history.

By providing a facility for these high-risk drivers, FAJUA serves a crucial role in ensuring that all drivers have access to the mandatory automobile liability coverage required by law, thus promoting road safety and enabling more individuals to obtain required insurance despite their circumstances. This effectively supports the overall goal of ensuring that all motorists can legally operate their vehicles while contributing to the larger insurance pool.

The other options touch on aspects related to health insurance and regulatory oversight, which do not align with the specific purpose FAJUA was created to fulfill.