Agent Bulletins
* * * * BULLETIN 04/2013 * * * *
IMPORTANT FAIRPLAN NOTICE TO PRODUCERS:
NEW CLAIM REPORTING CHANGES EFFECTIVE IMMEDIATELY
· We are pleased to introduce a new and preferred method for reporting claims in the FAIR Plan.Currently, most claims submitted to the FAIRPlan are phoned in by the agent and sometimes directly by the insured. Moving to web-based reporting of claims will allow us to assign and record claims more efficientlyand timely.
· Effective immediately new claims are to be reported through our FAIR Plan website, www.indianafairplan.com. This change will allow us to be more responsive and gain efficiencies in the processing of new claims.
· Claims may still be phoned in. However, our preferred method
is through the FAIR Plan website. For Agents ONLY to report claims:
oLoginon the AGENTS section of our website.
oOn the left-hand side of the web page you will see:
· NOTE: Policyholders will still report claims, as usual, via phone, email, or fax.
oClick on the Claims Reporting link.This will bring up a form requiring some basic claim information to be completed on-line such as policyholder name, date of loss, policy number,etc….There are required fields to be completed in order to submit the claim on-line and are noted as such.
oOnce the form is complete, click“submit”and the claim will be sent to the FAIR Plan Claims Department.
oThe Agent will receive a claim acknowledgment notice via
e-mail once the claim is submitted to the FAIR Plan.
oThe FAIR Plan“disclaimer”will be displayed upon submission of the claim:
IndianaFAIRPlan Disclaimer: Submission of a claim does not guarantee insurance coverage and/or that the claimis covered by a policy.Information you submit regarding the policyholder policy and the loss is subject to our review and verification. We reserve the right to request additional information prior to reaching a decision on the claim. The Indiana FAIR Plan does not staff after hours, weekends, or during holidays. A claim representative will be communicating with the policyholder regarding the claim no earlier than the next business day should the claim be submitted outside normal business hours. If you have any questions concerning the coverage afforded by the policy, please contact the Indiana FAIR Plan Association. (317)264-2310 or (800)888-8627
If you have any questions, please call Rick at 317-692-0557
or Pat at 317-692-0570.
* * * * B U L L E T I N 02/2013 –1 * * * *
IMPORTANT FAIR PLAN NOTICE TO PRODUCERS:
HABITATIONAL DWELLING AND PERSONAL PROPERTY RATES WILL CHANGE FOR NEW AND RENEWAL FAIR PLAN POLICIES EFFECTIVE APRIL 1, 2013.
· Habitational dwelling and personal property rates as a whole will increase on average 3.1%.
· The total premium increase in a Dwelling Fire policy may be less than 3.1% as the rate increase only applies to dwelling and personal property rates.
· The approved rate revisions have no changes to the FAIR Plan’s miscellaneous rates (other structures, liability, theft,
sub-standard condition, vandalism).
NEW COMMERCIAL POLICY FORMS EFFECTIVE APRIL 1, 2013
· Effective April 1, 2013, the Indiana FAIR Plan will begin using the current ISO commercial policy form. (STANDARD PROPERTY POLICY CP 0099 06 07)
· FAIR Plan form FP-25C has been updated to correspond to the current ISO commercial policy form with an effective date of April 1, 2013. This endorsement incorporates Indiana required language on cancellation.
The majority of the language changes are clarifications of policy language along with liberalization of policy provisions. Listed below are some of the changes within the new Standard Property Policy form.
Standard Property Policy (CP 0099 06 07) adds the following:
· added Limited Coverage For “Fungus”, Wet Rot, Dry Rot and Bacteria
· added Non-owned Detached Trailers
· Increased Fire Department charge to $1000
· Increased limits for signs from $1000 to $2500
· Removes Property Not Covered 2. a. “deeds”
Please click on Agents and then click on Printable Forms.
Standard Property Policy (CP 0099 06 07) and FP -25C only apply to Commercial policies.
If you have any questions, please call Jim at 317-692-0563 or Debie at 317-692-0564.
* * * * B U L L E T I N 11/2012 –4 * * * *
IMPORTANT FAIR PLAN NOTICE TO AGENTS:
Effective December 1, 2012, the Indiana FAIR Plan will begin using the current edition of the following forms: (Earthquake DP 04 69 12 02, Mine Subsidence DP 04 80 10 03, and Theft DP 04 72 12 02)
The Earthquake and Mine Subsidence forms (DP 04 69 12 02 and DP 04 80 10 03) provide additional clarification and do not change existing coverage. Theft (DP 04 72 12 02) , provides additional clarification as well as coverage changes which are described below:
Earthquake - Form DP 04 69 12 02 (No coverage changes)
Mine Subsidence - Form DP 04 80 10 03 (No coverage changes)
Theft - Form DP 04 72 12 02
· Increased - “vacancy” time frame, increased from 30 days to 60 days
· Increased coverage sub-limits from $1000 to $1500
· Increased coverage for firearms from $2000 to $2500
· Exclusion added stating Hovercraft is not covered
· Added other Insurance and Service Agreement
THERE IS NO ADDITIONAL PREMIUM CHARGED FOR THESE CHANGES
These forms and others can be found and printed from our website at www.indianafairplan.com within the Agents section. Please click on Agents and then click on Printable Forms.
These updated forms apply only to policies that have Earthquake, Mine Subsidence and/or Theft coverage.
If you have any questions, please call Jim at 317-692-0563 or Debie at 317-692-0564.
* * * * B U L L E T I N 08/2012 –3 * * * *
IMPORTANT FAIR PLAN NOTICE TO AGENTS:
ALL POLICIES WILL BE MAILED DIRECTLY TO THE NAMED INSURED
STARTING AUGUST 1, 2012.
Starting August 1, 2012, the Indiana FAIR Plan will mail all policies, policy declaration pages, policy amendments, and billing notices to the named insured. We will continue to mail a copy of any policy amendment that may occur and copies of new and renewal declaration pages to the agent or agency and to a mortgagee if any.
The language in the Agent Handbook and on the Indiana FAIR Plan website has been changed to reflect this mailing procedure.
If you have any questions, please call Jim at 317-692-0563 or Debie at 317-692-0564.
* * * * B U L L E T I N 07/2012 –2 * * * *
IMPORTANT FAIR PLAN NOTICE TO AGENTS:
OVERPAYMENTS AND REFUNDS POLICY WILL CHANGE
AS OF JULY 2, 2012.
Starting July 2, 2012, the Indiana FAIR Plan will now mail checks for overpayments and refunds only to the insured. We will no longer mail these checks to a mortgage company, insurance agent or other parties.
The language in the Agent Handbook and on the Indiana FAIR Plan website has been changed to reflect this new procedure for check issuances related to refunding overpayments and refunds to the insured.
A copy of the refund letter mailed to the insured will also be mailed to the agent, the mortgage company, and other parties, as applicable.
* * * * B U L L E T I N 04/2012 –1 * * * *
IMPORTANT FAIR PLAN NOTICE TO AGENTS:
BUILDING AND PERSONAL PROPERTY RATES WILL CHANGE
AS OF APRIL 1, 2012.
· Building and personal property rates will increase for all New and Renewal FAIR Plan policies with an effective date on or after
April 1, 2012.
· Dwelling Fire building and personal property rates as a whole will increase on average 15.3%.
o The total premium increase in a Dwelling Fire policy may be less than 15.3% as the rate increase only applies to building and personal property rates.
o The approved rate revisions have no changes to the FAIR Plan’s miscellaneous rates (other structures, liability, theft, sub-standard condition, vandalism).
· Commercial Fire policy rates will also change for all new and renewing Commercial Fire policies with an effective date on or after April 1, 2012. Average rate increase for Commercial Fire policies is 20%.
* * * * * * B U L L E T I N 11/2011 –6 * * * * * *
EFFECTIVE JANUARY 1, 2012
RE: MULTI-LOCATION POLICY CHANGES
· Effective 1/1/2012 the Plan will return to one policy for one location.
· For those policies which have multiple locations covered by one policy, we will be sending out separate renewal applications that will need to be completed and submitted for each location, along with a separate check for each location and policy. Upon renewal each location will have its own separate policy number.
· This is not a change in underwriting guidelines, procedures or rates. The same underwriting guidelines, procedures and rates will still apply for all polices.
The Plan will not accept check(s) for multiple policy locations
* * * * B U L L E T I N 10/2011 –5 * * * *
EFFECTIVE IMMEDIATEDLY
ISO FORM DL 24 16 07 88 REPLACED (NO COVERAGE FOR HOME DAY CARE BUSINESS
NEW ISO FORM DL 24 16 12 02 NO COVERAGE FOR HOME DAY CARE BUSINESS TO BE USED FOR ALL POLICIES ISSUED OR RENEWED ON OR AFTER OCTOBER 15, 2011.
The updated ISO form defines more clearly when home day care activities are a “business”, which is otherwise excluded from coverage under the policy.
This endorsement form does not constitute a reduction of coverage.
Please click on Agents Tab and then click on Printable Forms.
* * * * B U L L E T I N 06/2011 – 2 * * * *
EFFECTIVE JULY 18, 2011
NEW AUTOMATED QUOTE PROGRAM
Computer generated quoting program will be available on
07-18-2011. Please login to website: indianafairplan.com, click on AGENT tab and register.
Agents registered to use the FAIR Plan website will be able to access the new computer generated quote program effective July 18, 2011. The automated quote system will have the ability to figure the quote online, allow you to print the quote page and allow you to save the quote for future reference. YOU WILL NO LONGER HAVE TO FIGURE A QUOTE MANUALLY USING RATE PAGES. The quote is not binding.
* * * * B U L L E T I N 06/2011 – 3 * * * *
EFFECTIVE IMMEDIATELY
CHANGE IN OFFICE PROCESS
Applications submitted without premium will no longer have inspections ordered until premium is received. If you are requesting a quote by submitting an application, a quote will be prepared based on the information submitted and mailed to the agent. The quote is not binding.
FAIR Plan staff will not start the underwriting process, including review of the application or order an inspection, until a complete application is received with pictures and minimum premium deposit. Information on minimum premium deposit is available at indianafairplan.com in the agent’s handbook.
* * * * B U L L E T I N 06/2011 – 4 * * * *
EFFECTIVE JUNE 13, 2011
GENERAL LIABILITY FORM CHANGE
General Liability Form DL 24 01 12 02 and Special Provision – Indiana Form DL25 13 03 11 will be used on all policies with Liability Coverage on or after 06/13/2011. Copies of the new forms are available on the FAIR Plan website.
* * * * B U L L E T I N 04/2011 - 1 * * * *
DEDUCTIBLE CHANGE - NOTICE TO AGENTS AND INSUREDS:
**NEW MINIMUM DEDUCTIBLE: $500 DEDUCTIBLE
**EFFECTIVE APRIL 1, 2011 NEW DWELLING FIRE POLICIES WILL HAVE A MINIMUM DEDUCTIBLE OF $500 OR GREATER.
EXISTING POLICYHOLDERS THAT CURRENTLY HAVE A $250 DEDUCTIBLE WILL HAVE THE OPPORTUNITY TO MAINTAIN THAT DEDUCTIBLE LEVEL FOR ONE RENEWAL PERIOD ONLY. THESE POLICYHOLDERS MUST ELECT TO CONTINUE THEIR $250 DEDUCTIBLE ON THE RENEWAL APPLICATION AND SUBMIT THE APPROPRIATE PREMIUM WITH THEIR RENEWAL APPLICATION.
RENEWAL POLICIES WITH AN EFFECTIVE DATE ON OR AFTER APRIL 1, 2012 WILL HAVE A MINIMUM DEDUCTIBLE OF $500. THERE WILL BE NO OPPORTUNITY TO PURCHASE A $250 DEDUCTIBLE FOR A FAIR PLAN POLICY STARTING IN 2012.
** EFFECTIVE 10/1/2010 NEW OFFICE LOCATION **
We have moved!!! Our new office location address is listed below.
INDIANA BASIC PROPERTY INSURANCE UNDERWRITING ASSOCIATION
(INDIANA FAIR PLAN)
8777 Purdue Road, Suite 360
Indianapolis, IN 46268
TELEPHONE: (317) 264-2310 or (800) 888-8627
FAX: (317) 264-2313 or (888) 597-4819
* * EFFECTIVE 9/3/2010 NEW WEBSITE ENHANCEMENT * *
Our policy status program is now online. You now have the ability to print policies, review coverages, and check payment status.
Once you have signed in as an agent you can review your policies under our “VIEW POLICIES” tab.
Our policy status program is called: NAVIGATOR
IMPORTANT FAIR PLAN CHANGE EFFECTIVE JANUARY 1, 2010
NOTICE TO AGENTS: 2010 RATE INCREASE
DWELLING FIRE PROGRAM POLICIES ONLY
This rate increase will apply to all New and Renewal FAIR Plan Dwelling Property Policies with effective dates on or after January 01, 2010.
Premium rate increase is: 11.7%.
******** IMPORTANT FAIR PLAN CHANGES EFFECTIVE APRIL 1, 2009 ******
MULTIPLE DWELLINGS - ONE POLICY
In the past, the FAIR Plan has written a separate policy and charged a separate premium for each non-owner dwelling owned by a policyholder who owns multiple dwellings.
Effective April 1, 2009, we will convert policyholder multiple dwellings onto one policy by dwelling location endorsements. After a policy is issued, any new dwellings will be added as an endorsement. A new Multiple Dwelling Supplement Application for each location will be used for additional dwelling locations only. Signatures are not required on the Multiple Dwelling application as it will become part of the original Basic Property Insurance Application.
Premium will be pro-rata from the day added to the end of the policy term. Any deletion of a dwelling during the policy period will cause a refund of premium pro-rata.
Multiple dwelling policies will have the same rules, procedures and rating as current single dwelling policies do now.
FAIR PLAN DECLARATION PAGE HAS BEEN UPDATED.
Surcharges now show the actual surcharge premium associated with each surcharge. Policy forms and endorsements are now named.
COMING SOON – WEBSITE IMPROVEMENTS AND ENHANCEMENTS
Site will provide online computer quoting and easier access for agents to status their policies. Manual rate quoting will no longer be necessary. Agents will have access to status their own policies.
These enhancments are projected to be completed during 2010.
NEW BUSINESS APPLICATION - REMINDER
Pictures are still required when submitting a new business risk, applications without pictures will be returned. New business applications can be printed from our website.
Indiana recently has had storms and flooding in several Indiana counties.
The Indiana Commissioner of Insurance has issued a 60 day moratorium / grace period (Bulletin 163) which restricts a company’s ability to cancel, nonrenew or charge late payments to policyholders in “impacted areas”.
Effective June 17, 2008 - August 16, 2008.
RE: AMOUNT DUE NOTICE
AMOUNT DUE NOTICE FOR PAYMENT will be extended to August 16, 2008. Premium not paid by August 16, 2008 will cause policy coverage to cancel as of August 16, 2008 due to non payment of premium.
RE: RENEWAL NOTICE
RENEWAL NOTICE: Insurance coverage / payment will be extended to August 16, 2008. If renewal premium is not paid by August 16, 2008, then the grace period provided will expire and coverage will expire as of expiration date shown on notice.
Please contact your agent or the Indiana Fair Plan if you have questions or concerns regarding your extension of time for paying premium.