In addition to guaranty fund assessments, many states established some form of state-supervised or state-created entity to provide insurance coverage in high-risk areas or for high-risk insureds, which are often referred to as "FAIR Plans" (Fair Access to Insurance Requirements). FAIR Plans operate as insurance companies by charging premiums to the high-risk insureds, but the plans also have the ability to assess insurers operating in the state, and in some cases insureds purchasing insurance in the state, in the event that the plans have insufficient funds to pay claims.