Which one of the following best describes a FAIR plan and its insureds?
1) A plan that provides insurance coverage for high-risk properties and individuals who are unable to obtain coverage through traditional insurance companies
2) A plan that provides insurance coverage for low-risk properties and individuals who are unable to obtain coverage through traditional insurance companies
3) A plan that provides insurance coverage for high-risk properties and individuals who are able to obtain coverage through traditional insurance companies
4) A plan that provides insurance coverage for low-risk properties and individuals who are able to obtain coverage through traditional insurance companies