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50th Anniversary Open House

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.

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Authority of Producers

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 Plan Association. Producers cannot:

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2018 Member Premium / Participation Reporting

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 administrative cost for the members as well as for the IFPA.

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Avoid a Lapse

Producers do not have binding authority with the Iowa FAIR Plan Association. However, your clients sometimes need coverage bound ASAP. We can work together to avoid a lapse in coverage for your clients:

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Producer Profile – Hazell Agencies

The Iowa FAIR Plan Association relies on diligent individuals to assist consumers in obtaining coverage. There may be many unusual and difficult situations where the producer must use their expertise and knowledge to succeed in this mission.  As recognition, we would like to take the time to spotlight our producer partners. Let us begin, please meet: Hazell Agencies in Burlington, Iowa.

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Four Year Non-Renewal

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.

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Payment Options

New Business Full payment by check or money order with a new application or 25% plus $5 to use the quarterly payment plan. Payment Frequency Options Annual. 100% of the annual premium with no service fee. Quarterly. This plan requires 25% of the premium plus a $5 service fee for each payment. The Iowa FAIR Plan Association will direct bill a policyholder 30 days before each installment is due. Mortgagee Billing Options Mortgagees and/or additional insureds can be billed on renewals …

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Eligibility

The Iowa FAIR Plan Association does not guarantee policy issue. Non-acceptable dwelling or commercial risks include any property that: is vacant or unoccupied or; has one or more open claim(s) or; has unrepaired damages from any previous claim(s) or; is noncompliant with local building codes and/or condemned. Additionally, properties are ineligible for the Homeowners 8 Program if there are unsafe conditions, including, but not limited to:

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Replacement Cost vs. Acutual Cash Value

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17 Counties Declared “Disaster Emergency”

Contact us if you are in one of the counties affected by the flood and need a grace period during which you can take actions necessary to keep your insurance policy in force. As of September 27, 2016 the following counties are affected: Allamakee, Benton, Black Hawk, Bremer, Buchanan, Butler, Cedar, Cerro Gordo, Chickasaw, Delaware, Floyd, Franklin, Hancock, Linn, Mitchell, Worth and Wright.

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