What is a “FAIR Plan”?

The Federal Urban Property Protection and Reinsurance Act of 1968 authorized the establishment of FAIR Plans.

FAIR is an acronym for Fair Access to Insurance Requirements.

Many states, including Iowa, followed up with state legislation to enable a FAIR Plan to meet the needs of citizens in their own state. The Iowa FAIR Plan Association was formed on October 25, 1968.

The Association

The Iowa FAIR Plan Association is an unincorporated mandatory risk-sharing facility established by state law to provide basic property insurance to qualified applicants who are not eligible for insurance in the voluntary insurance market.

Applicants who have been canceled or non-renewed should shop for replacement coverage in the voluntary market before applying for coverage through the Iowa FAIR Plan Association.

If consumers are unsuccessful in finding coverage elsewhere they should contact an insurance agent who can then assist them in applying for coverage through the Iowa FAIR Plan Association.

All applications for coverage with the Iowa FAIR Plan Association must be submitted by an insurance agent licensed by the State of Iowa.

Governing Committee

The Governing Committee provides oversight on operations of the Iowa FAIR Plan Association. The Governing Committee appoints an Executive Director to carry out the mission and manage the day-to-day operations.