Producers:
Can’t place insurance?

Do you have a customer that you can’t find property insurance for? The Iowa FAIR Plan Association (IFPA) may be your solution. Follow these four easy steps and we will provide you with a quick, accurate quote.

Producers:
Can’t place insurance?

Do you have a customer that you can’t find property insurance for? The Iowa FAIR Plan Association (IFPA) may be your solution. Follow these four easy steps and we will provide you with a quick, accurate quote.

4 Easy Steps

If you are a new producer with the IFPA, please complete a W-9 form.

Info Box

Info Box

Info Box

Info Box

Step 1.
Check Eligibility

Please check eligibility guidelines before requesting a quote. Properties are ineligible if one or more of the following conditions are present:

  • is vacant and/or unoccupied and/or in foreclosure.
  • has physical conditions which have been declared unsafe by a local jurisdiction.
  • has grossly inadequate and/or defective heating, wiring, or plumbing and/or is in exceptionally poor physical condition and/or has exceptionally poor housekeeping.
  • has unsettled/unpaid claims from previous losses or has unresolved damages from previous losses.
  • has a wood-burning stove and the stove is “homemade” or, the property is a mobile home that has a wood-burning stove or, the property has a garage/outbuilding with a wood-burning stove.
  • is a rental property with more than 65 percent vacancy and/or the property lacks a current rental certificate where required.
  • has more than two losses, each loss amounting to at least $500 or one percent of the insurance in force, whichever is greater, in the immediately preceding 12-month period, or more than three such losses in the immediately preceding 24-month period.

Step 2.
Complete Application

Click on a link below for the underwriting guidelines.

Commercial Property Program

Dwelling Property Program

Homeowners 8 Program

Step 3.
Collect Signatures

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:

  • Act as agents for the Iowa FAIR Plan Association
  • Bind coverage for the Iowa FAIR Plan Association
  • Alter or change policies issued by the Iowa FAIR Plan Association
  • Settle losses for the Iowa FAIR Plan Association
  • Decline or refuse to insure a risk on behalf of the Iowa FAIR Plan Association
  • Act on behalf of the Iowa FAIR Plan Association or commit the Iowa FAIR Plan Association to any course of action

Step 4.
Proof of Payment

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.

Mortgaged Billed Options

Mortgagees and/or additional insureds can be billed on renewals only.

Payment Types

  • Checks or money orders should be made payable to the “Iowa FAIR Plan Association”.
  • A current bill can be paid directly from a checking account, debit or credit card. Click here for more information.
  • The Iowa FAIR Plan Association does not accept cash.

Service Standards

We require five business days for quotes, issuing new policies, or processing policy changes.

A completed application (with the signatures of all named insureds and the producer) along with proof of payment are needed before a policy is issued.

man signing contract with pen

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:

  • Act as agents for the Iowa FAIR Plan Association
  • Bind coverage for the Iowa FAIR Plan Association
  • Alter or change policies issued by the Iowa FAIR Plan Association
  • Settle losses for the Iowa FAIR Plan Association
  • Decline or refuse to insure a risk on behalf of the Iowa FAIR Plan Association
  • Act on behalf of the Iowa FAIR Plan Association or commit the Iowa FAIR Plan Association to any course of action

Producer Frequently Asked Questions

Agents are not appointed or contracted with the Iowa FAIR Plan Association. Any agent licensed to write property insurance in Iowa may be a producer and can submit an application to the Plan.

Yes. The FAIR Plan Act set the commission rate at 10%. The Iowa FAIR Plan Association writes only through licensed agents and does not write directly with consumers.

No. While we make every effort to provide coverage, there are underwriting guidelines that may make a property ineligible, e.g., the IFPA is not a market for vacant or unoccupied dwellings, dwellings with unrepaired damage from a previously paid claim, or non-professionally installed wood-burning devices in the dwelling or a wood-burning device or stovepipe in a garage or outbuilding. A complete set of underwriting guidelines are on our website at www.iowafairplan.com.

Yes. In fact, almost half of our policies are from small towns and rural areas. We currently have policies in 93 Iowa counties.

Dwelling Program

  • We can provide ACV coverage up to two times the assessed value or a total of $250,000 whichever is less.

Commercial Program

  • We can provide ACV coverage up to the assessed value or a total of $500,000 whichever is less.

The IFPA simplified the billing process in 2014. This greatly reduced the service work required of our producers and enabled us to offer our policyholders quarterly or annual payment options. We electronically bill mortgagees on policy anniversary renewals.

Yes. We offer annual and quarterly payment plans. There is a $5 service fee for each payment that is not billed annually.

New business, including mortgagee-billed policies, requires a 25% down payment with the $5 service fee.

Once a policy is issued a policyholder may make payments by check, e-check, debit card or credit card.

All quotes are done by the IFPA as soon as we receive a completed application from a producer. A complete application is typically quoted the same day it is received.

The quote sheet will include instructions on what is required for policy issue. Typically, this includes signatures by all named insureds, signature by the producer, supporting documentation and the premium required for the selected payment mode.

Send completed applications by email to info@iowafairplan.com. 

Applications are available for download on the IFPA website.

 

The Plan uses the following criteria to determine fire protection class:

  • Protection Class 1-8: Inside city limits of a protected city/town.
  • Protection Class 9: Outside city limits of a protected city/town but with hydrant within 1000 feet.
  • Protection Class 10: Outside city limits of a protected city/town with no hydrant within 1000 feet.

Every property is inspected. A copy of the inspection is available to the policyholder and producer.

Information from the inspection report is used to verify the information on the application. We may make adjustments to deficiency charges if indicated.

One to three deficiency charges may be added to the premium if deficiencies are discovered during an inspection of the property.

A deficiency charge is $1.00 per $1,000 of coverage (both dwelling and contents) and applies due to significantly less than average conditions of the roof, siding, trim, paint, soffits, fascia, gutters, or an overall lack of maintenance of the premises.

A policyholder may have deficiency charges removed by correcting and documenting the condition(s) that caused the charge to be imposed.

Yes and No. All policies are renewed on the anniversary three times.

At the end of four years, the policy is non-renewed to encourage the policyholder to check for coverage in the standard market place.

If standard coverage is unavailable the policyholder may reapply to the IFPA for a new policy. The application is subject to eligibility and inspection, the same as all new business.

No, all IFPA policies are written on an Actual Cash Value (ACV) basis.

For producers using the most common agency management systems, we can provide an electronic download to your system. Additionally, we are pleased to announce the availability of an on-line producer portal. This portal provides 24/7 access to:

  • Detailed view of active policies
  • Claim payment transaction detail
  • Current and historical payments
  • Application and correspondence
  • Payment/billing status
  • Print Notices
  • Outstanding balances report
  • Claims activity report
  • Daily activity policy and notice print
  • Agent statements
  • Summary of the active book of business
  • Inspection reports

The IFPA uses independent claims adjusters for most claims. We have adjusters that have worked with us for many years and they are very familiar with our coverage forms.

Yes. The IFPA is an unincorporated partnership owned by the over 900 property and casualty carriers licensed to sell property and casualty business in Iowa. As an unincorporated partnership, these member carriers have unlimited liability for the claims and other expenses of the IFPA. The member carriers function as a reinsurance backstop.

The IFPA has a policy of maintaining surplus to writings at or above two to one to maintain our ability to settle claims. The Governing Committee authorizes an assessment of its carrier members to maintain surplus as required. This happens about every 8-10 years but could happen at any time following catastrophic losses.

Every year the IFPA has an outside financial audit, an underwriting audit provided by Nationwide and a claims audit provided by State Farm. The Governing Committee consists of experienced executives all based in Iowa. Additionally, the Iowa Insurance Division has assigned a liaison to help guide us as required by The FAIR Plan Act.

Have another question?

“The people are really helpful and great to work with!"

— Wade Johnson

“The staff at The Iowa Fair Plan are always so helpful!”

— Joann Huinker

“You guys are awesome always”

 

— Jim Eastvold

“You have done a great job. You are to be commended.”

— Bob Skow

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