The Governing Committee of the Iowa FAIR Plan Association has issued an assessment for all member insurers for the calendar year 2018. Assessments are based on each member insurer’s proportionate share of the qualifying net direct written premium for all member insurers for the preceding calendar year. Invoices were mailed to members on October 25, […]
The Federal Urban Property Protection and Reinsurance Act of 1968 authorized the establishment of state-based FAIR (Fair Access to Insurance Requirements) Plans. The Iowa FAIR Plan Association was formed on October 25, 1968. Please join us for an open house as we celebrate our 50th Anniversary on Friday, October 19, 2018, from 1:00 PM– 3:00 PM.
State law provides that any property and casualty insurance agent that is licensed by the Iowa Insurance Division can submit applications to the Iowa FAIR Plan Association. We do not appoint agents. We use the term “producer” to refer to our licensed non-appointed agents who assist consumers in applying for coverage through the Iowa FAIR
The Governing Committee of the Iowa FAIR Plan Association (IFPA) has simplified the process for our member’s premium reporting (a.k.a Participation Report) effective in 2018. The IFPA will use the appropriate lines of coverage from the most current NAIC Schedule P. No additional action or reporting is required of our members. This change was made to reduce the
Iowa law requires that at the completion of thirty-six (36) months of coverage and prior to the completion of forty-eight (48) months of coverage every Iowa FAIR Plan Association policy shall be non-renewed. This process is to encourage a return to the voluntary market.