The following is the methodology used to determine the Participation / Assessment Ratio.

  1. The IFPA will use the most current NAIC data available from the Iowa Insurance Division for insurers licensed to transact insurance business in the state and required to be members of the Iowa FAIR Plan Association.
  2. There are no separate pools.
  3. The data will include all members with written premium in any of the following lines:
    • Fire
    • Allied lines
    • Homeowners
    • Farmowners multi-peril
    • Commercial multi-peril
    • For county mutuals only: we use the most recent written premium report available from the Iowa Insurance Division for the following lines: Fire and Wind
  1. Any member with a total written premium of the above lines that is a negative balance or zero will be removed from the list. The remaining premium will be known as “assessable premium.”
  2. The participation ratio for a member will be determined by dividing the member's total assessable premium by the total assessable premium of all members. The ratio will be carried out to five decimal points.
  3. Assessment will be rounded to the nearest dollar.
  4. Assessments of less than $100 will not be invoiced or accrued for future payment.
  5. Invoices will be sent to individual members using the most current address on file with the Iowa Insurance Division.
  6. Members will have 30 days to pay the invoice.
  7. If any member fails to pay an assessment within 60 days after it is due, the insurer shall pay interest from the billing date at the rate of 1.5 percent per month.
Scroll to Top