Dear Web-site guests:

 

The first phase of changes to the Indiana Basic Property Insurance Underwriting Association are now complete.  We have made improvements and added information. New tabs are available in several sections. 

 

  *  Agent registration is required to obtain access in the “registered agent” section. 

      All forms and rates are updated and current as of January 1, 2010.

 

  *  We have added a new Member section that requires a login ID and password. 

      All Member Insurers will be receiving a letter from us in the next few weeks

      explaining how to log in and what reports can be accessed through this new

      section.  If you are a Member insurer and do NOT receive a letter by

      January 15, 2010, be sure to contact us. 

 

  *  If you have previously used our old web-site, please take a minute to become

     familiar with the new tabs and information available.

 

We hope you enjoy our new web-site and if you have difficulty navigating through it,  please feel free to email us for assistance. fpfileroom@quadassoc.org

What is the FAIR Plan?

The Indiana Basic Property Insurance Underwriting Association, also known as the FAIR Plan, was established October 28, 1968 for the purpose of making property insurance available to applicants who have not been able to secure such insurance on insurable property through the normal insurance market.  The FAIR Plan is not intended to be competitive with the voluntary insurance marketplace, but instead is designed to be used as a last resort to obtain basic property insurance.  It is a voluntary association comprised of Insurance Companies that are licensed to write property insurance in the State of Indiana.  Funding is done by assessment to the member companies.  Premium income from FAIR Plan policies is used to pay policy loss claims, expenses and administrative expenses.

The FAIR Plan offers

Dwelling and Commercial Insurance to Indiana Residents who have been declined coverage by at least three non-related Insurance Companies.  The declination is verified in section 2 of the FAIR Plan application for insurance.

The maximum amount of coverage for dwelling risk is $250,000 combined for building and contents.  Commercial coverage has a maximum amount of $1,000,000 combined for building and contents. 

Indiana FAIR Plan News