Section 25-402 - Purposes of subtitleThe purposes of this subtitle are:
(1) to authorize and establish: (i) the Joint Insurance Association;(ii) a program to make essential property insurance available from the Association to qualified applicants with the least possible administrative detail and expense; and(iii) a program to make the homeowner's insurance that is provided by the Association available to qualified applicants with the least possible administrative detail and expense;(2) to encourage the improvement of the condition of properties located in the State;(3) to further orderly community development in general;(4) to publicize the purposes and procedures of this subtitle so that no one fails to seek assistance from the Association because of ignorance;(5) to utilize fully the voluntary insurance market as a source of essential property insurance and homeowner's insurance; and(6) to encourage the delivery of essential property insurance, and the homeowner's insurance that is provided by the Association, at the most reasonable cost possible, provided that insurance pricing by the Association: (i) is actuarially self-supporting; and(ii) does not actively compete with insurance pricing in the voluntary insurance market.