Establishes plan for provision of coverage to homeowners who are otherwise unable to procure homeowners insurance.

This bill requires New Jersey's insurance commissioner to establish a mandatory plan providing homeowners insurance to residents who cannot obtain coverage through regular channels, with special focus on properties at risk of flooding. All licensed insurers in the state must participate under a fair rating system that ensures rates cover plan costs without external subsidies. The plan must include a system for insurers to transfer applicants to other providers and requires annual financial reports to the legislature on rate adequacy and plan stability. It directly affects homeowners in high-risk flood areas who face coverage gaps in the private insurance market.