INDIANA BASIC PROPERTY INSURANCE UNDERWRITING ASSOCIATION

Agent Bulletins

 

 

IMPORTANT INDIANA FAIR PLAN NOTICE TO AGENTS


 

****BULLETIN 09-2017****


EFFECTIVE OCTOBER 1, 2017


PLEASE BE ADVISED THAT AGENCY COMMISSION PAYMENTS WILL BE ISSUED BY THE INDIANA FAIR PLAN AS FOLLOWS:


  • UPON RECEIPT OF FULL POLICY PREMIUM PAYMENT AND
  • PAYABLE ONCE THE POLICY IS ISSUED AND/OR RENEWED

 

If you have any questions or concerns, please contact Stephanie Hochstedler, Controller shochstedler@quadassoc.org  or James Hart jhart@quadassoc.org

 


 

 

****B  U  L  L  E  T  I  N    06-2017****

 

 

ATTENTION

 

EFFECTIVE JUNE 1, 2017, THE INDIANA FAIR PLAN WILL BEGIN ACCEPTING NEW AND RENEWAL BUSINESS THROUGH OUR NEW ONLINE SYSTEM. THE NEW SYSTEM WILL BE ACCESSIBLE FROM OUR WEBSITE BEGINNING JUNE 1, 2017.

 

https://infairplan.onaipso.com/

 

INSTRUCTIONS FOR REGISTERING, QUOTING, SUBMITTING NEW AND RENEWAL APPLICATIONS AND REVIEWING YOUR POLICIES WILL BE AVAILABLE ON THE AGENT TAB AT THE WEBSITE.

 

QUESTIONS MAY BE DIRECTED TO:

 

ALEX HOCHSTEDLER -CSR  317-692-0561  ahochstedler@quadassoc.org

 

RUSTIE BODINE -CSR 317-692-0559

rbodine@quadassoc.org

 

DEBIE HUDSON – UNDERWRITER 317-692-0564

dhudson@quadassoc.org

 

JAMES HART –  UNDERWRITING MANAGER 317-692-0573

 

jhart@quadassoc.org

 


 

****B  U  L  L  E  T  I  N    03-2017****

 

 


Effective June 1, 2017, all new and renewal business will be submitted to the Indiana FAIR Plan through our new Policy/Claims Administration System. Access will require a new log-in and password for agents to Quote Policies and to Request New and Renewal Policies for your Agency. Information on registering for the new system will be provided to all agencies with existing business in May. The new system will allow you to:

 

·      Quote New Business

·      Submit New and Renewal Applications

·     Review Agency Policies

·     Submit Claims

 

 

Indiana FAIR Plan underwriting and claims procedures and guidelines will not be changed as we move to the new system.  Information and updates about the of the new Policy/Claims Administration System will be on the agent page of the Indiana FAIR Plan website.

 

James Hart

IFP Underwriting Manager

317-692-0575

jhart@quadassoc.org

 

Debie Hudson

IFP Underwriter

317-692-0564

dhudson@quadassoc.org

 

Rustie Bodine

IFP Customer Service Representative

317-692-0559

rbodine@quadassoc.org

 

 


 

IMPORTANT INDIANA FAIR PLAN NOTICE TO AGENTS

 

****B  U  L  L  E  T  I  N    01-2017****

 

Effective January 1, 2017 the Indiana FAIR Plan requires $250.00 premium deposit or the annual full premium submitted with the new business application.

 

The Indiana FAIR Plan does not backdate cancellations beyond 30 days upon receipt of the request to cancel.

 

Please read and review changes in the agent manual effective January 1, 2017.    

 

Any questions regarding this bulletin can be directed to Jim Hart at 317-692-0563 or Debie Hudson at 317-692-0564.

 

 



BULLETIN 01-2016

*****IMPORTANT NOTICE TO AGENTS****

 

Pursuant to changes in the Indiana Mine Subsidence Law, effective January 1, 2017, policy owners residing in those Indiana counties covered under the Indiand Mine Subsidence Law will have the option of adding up to $15,000 of coverage for additional living expenses (ALE). This ALE will be available for all new and renewal business including those policy owners who have renewed prior to January 1, 2017. The new forms will be added to the Printable Forms link (DP N 002 01 17 and HO N 010 01 17) on January 1, 2017 will replace the current mine subsidence election forms, Effective January 1, 2017 the new forms must be completed indicating whether coverage is selected or waived and are to be included with any new or renewal applications for policies where mine subsidence is offered. Please contact the Indiana FAIR Plan at 317-264-2310 with any questions.


 


 

Indiana Basic Insurance Underwriting Association Announcement - Election of Rick Vasil as Manager.

 

 

The Indiana Basic Property Insurance Underwriting Association (Indiana FAIR Plan) Governing Committee is pleased to announce that Rick Vasil has been elected as Manager of the Indiana FAIR Plan effective August 1, 2015. Jan Funk, the current Manager, will continue as Executive Director of the Indiana Insurance Guaranty Association, Indiana Life and Health Insurance Guaranty Association, and President of Quad Assoc, LLC.


 

Mr. Vasil has served as Indiana FAIR Plan Claims Manager for the last three years, will continue to serve as the Indiana Insurance Guaranty Association Claims Manager and has been elected as Vice President of Quad Assoc, LLC. Prior experience includes over 25 years of experience with property casualty insurance companies in management, claims, and experience managing within the general business sector. Mr. Vasil has his AIC and Chartered Property Casualty Underwriter designations and has been active in the local chapter of the CPCU organization. 

 


 

****BULLETIN 06-2015****

 

***IMPORTANT NOTICE TO AGENTS***

 

PLEASE NOTE THAT THERE IS A NEW MINE SUBSIDENCE ELECTION/WAIVER FORM (FP-MS-NEW BUSINESS 07/15) TO REFLECT THE REVISIONS TO IC 27-7-9-9. THIS FORM IS REQUIRED WITH ALL NEW BUSINESS APPLICATIONS FOR RISKS IN CERTAIN DESIGNATED COUNTIESEFFECTIVE JULY 1, 2015. THE INDIANA FAIR PLAN LIMITS COVERAGE ON DWELLINGS UP TO $250,000 AND COMMERCIAL STRUCTURES UP TO $1,000,000. THE REVISED FORM REFLECTS THE MAXIMUM AMOUNT PAYABLE BASED UPON CHANGES TO IC 27-7-9-9 AND FAIR PLAN COVERAGE LIMITS. 

 

IF YOU HAVE ANY QUESTIONS, PLEASE CALL JIM HART AT 317-692-0563


 

 

  *    *    *    *   B  U  L  L  E  T  I  N    02-2015   *    *    *    *

 

  

IMPORTANT INDIANA FAIR PLAN NOTICE TO AGENTS:

 

 

Effective April 1, 2015, all premium payments for FAIR Plan polices are to be sent to the following address:

 

Indiana Basic Property Insurance Underwriting Association

PO Box 6457 – Dept #283

Indianapolis IN  46206

 

 

If you have any questions, please call Jim Hart at 317-692-0563 or Debie Hudson at 317-692-0564.

 


 

*    *    *    *   B  U  L  L  E  T  I  N    01-2015   *    *    *    *

 

 

IMPORTANT INDIANA FAIR PLAN NOTICE TO AGENTS:

 

Pursuant to Bulletin 01 2014, existing policy owners covered by a Dwelling Fire policy were given an opportunity to renew that policy with liability and theft coverage for one additional policy term.

 

Effective April 1, 2015, liability and theft coverage will no longer be available for Dwelling Fire policies renewing for an additional policy term. Liability and theft coverage is only available under a homeowners policy.

 

A homeowner policy is only available to owner-occupied applicants and all applicants for a homeowners policy will be required to submit an application and be subject to a new inspection and underwriting guidelines.

 

 

If you have any questions, please call Jim Hart at 317-692-0563 or Debie Hudson at 317-692-0564.

 


  

*    *    *    *   B  U  L  L  E  T  I  N    02-2014   *    *    *    *

 

 IMPORTANT INDIANA FAIR PLAN NOTICE TO AGENTS:

 

Effective January 1, 2015 the Indiana FAIR Plan will begin requiring annual renewal applications on all Dwelling, Homeowner and commercial policies. Renewal applications will be sent out 45 days in advance.

 

Please note there will be separate renewal applications for Dwelling, Homeowner and Commercial policies. The renewal application must be completed in full and signed by both the policy owner and agent. Please refer to the Agent Manual for renewal requirements.

 

If you have any questions, please call Jim Hart at 317-692-0563 or Debie Hudson at 317-692-0564.

 


 

 

*    *    *    *   B  U  L  L  E  T  I  N    03-2014      *    *    *    *


IMPORTANT INDIANA FAIR PLAN NOTICE TO AGENTS

ADDITONAL MINE SUBSIDENCE ELECTION FORM

TO BE INCLUDED WITH NEW APPLICATIONS

  

Indiana law (IC 27-7-9-8) requires Mine Subsidence coverage be offered for properties located in designated counties. This coverage must be made available to home owners located in one of the eligible counties regardless of where the sale of insurance takes place. Agents have a list of designated counties.

 

Effective November 1, 2014 the Indiana FAIR Plan will begin requiring all new applications for properties located in one of the designated counties to complete and sign a separate form (FP-MS-New Business (9/14)), accepting or declining mine subsidence coverage. This form must be completed and included with all new business applications submitted to the Indiana FAIR Plan for properties located in the designated counties.

 

You can find a list of the designated counties in which mine subsidence must be offered at the Indiana Department of Insurance website. Questions regarding the Indiana Mine Subsidence Program can be directed to the Indiana Department of Insurance at 317-232-1990.

 

Any questions regarding this bulletin can be directed to Jim Hart at 317-692-0563 or Debie Hudson at 317-692-0564.

 

 


 

*    *    *    *   B  U  L  L  E  T  I  N    04-2014   *    *    *    *

  

IMPORTANT INDIANA FAIR PLAN NOTICE TO AGENTS:

 

Please note that there are new applications for dwelling/homeowner and commercial properties. The new applications contain language with regard to refund of unearned premium for policies cancelled within the first 90 days of issuance.

 

Effective November 1, 2014 the Indiana FAIR Plan will require the new applications on all dwelling/homeowner and commercial properties. The new applications will be posted on the Indiana FAIR Plan website under the Forms page. Please ensure that you are using the correct application forms (FP-17 Rev. 11/14 for dwelling and FP-18 Rev. 11.1/14 for commercial). We will not accept the previous versions of the applications.

 

If you have any questions, please call Jim Hart at 317-692-0563 or Debie Hudson at 317-692-0564.

 

 


 

**** BULLETIN 01 - 2014 ****
IMPORTANT NOTICE TO AGENTS
 
NEW PRODUCT FORMS AND POLICIES WILL BE OFFERED BY THE INDIANA FAIR PLAN FOR NEW POLICIES AND RENEWALS EFFECTIVE APRIL 1, 2014.
EFFECTIVE APRIL 1, 2014, THE PLAN WILL BE INTRODUCING A DP-2 BROAD FORM DWELLING FIRE POLICY AND WILL BE ALSO BE INTRODUCING HOMEOWNERS HO-8 MODIFIED AND HOMEOWNERS HO-2 BROAD FORM.
 
* Residential dwellings will be written with no co-insurance requirement. In the event of a covered loss, settlement will be based upon actual cash value.
* Coverage limitations, exclusions, and conditions are described in each policy form. The policy language describes the coverage provided. No replacement cost coverage is offered.
* HO-8 and HO-2 will be available to owner occupied only, subject to underwriting.
* Liability and theft coverage will no longer be available for new Dwelling Fire policies issued on or after April 1, 2014.  
* Existing owner occupied, Dwelling Fire renewal policies will have the option of applying for Homeowners policy at the time of renewal.
* Policyholders that choose to maintain their existing DP-1 policy may elect to continue the liability and/or theft coverage until their 2015 renewal date at which time liability and theft coverage will no longer be available under Dwelling Fire policy forms.
* The addition of these new product forms will provide additional coverage options to consumers seeking broader insurance coverage protection. The homeowner policies are only available to owner occupied applicants that meet underwriting guidelines.
 
 

Please be advised that all applications for a homeowner’s policy will require a new application, a new inspection and will be subject to underwriting guidelines.
 
Please refer to the Product Comparison chart that can be found on the Printable Forms Page in the Agent’s Section. We will begin accepting new applications for the DP-2, HO-8, and HO-2 policy forms on policies effective April 1, 2014 or after.
 
If you have any questions please call Jim at 317-692-0563
 
 

                       
     *    *    *     *   B  U  L  L  E  T  I  N    11/26/13    *     *    *    *
      
                              *  *  *  *  I M P O R T A N T  N OT I C E    *  *  *  *
 
 Indiana recently had severe storms in several Indiana counties.
 
The Indiana Commissioner of Insurance has issued a 60 day moratorium / grace period (Bulletin 201) which restricts a company’s ability to cancel, nonrenew or charge late payments to policyholders in “impacted areas” at this time the “impacted areas” are the following counties:   Benton, Boone, Cass, Clinton, Daviess, Fountain, Grant, Hamilton, Howard, Jasper, Knox, Kosciusko, Lawrence, Miami, Montgomery, Newtown, Pulaski, Tippecanoe, Tipton, Vermillion, Warren, Washington, and White Counties. If additional counties are added, we will update this notice.
  

RE:  AMOUNT DUE NOTICES

 

 
If you receive an AMOUNT DUE NOTICE your due date will remain the same.  However, the FAIR Plan will not cancel your policy if payment is received no later than January 22, 2014.  Premium not received by January 22, 2014 will result in cancellation of your policy coverage due to non-payment of premium as of the original cancellation date.  
 

 

RE:  RENEWAL NOTICES

 

 
If you have received a RENEWAL NOTICE you must still submit a renewal application, with annual premium by the specified date.  However, the FAIR Plan will not cancel your policy if the renewal premium is received on or before January 22, 2014.  If your renewal application has not been timely received and the renewal premium has not been received by January 22, 2014, your coverage will expire as of the original expiration date shown on renewal notice.
 
Please contact your agent or the Indiana FAIR Plan if you have questions or concerns regarding the impact of this grace period on your policy.
 
 

 
         *    *    *    *   B  U  L  L  E  T  I  N    07/2013    *    *    *    *
 
IMPORTANT FAIR PLAN NOTICE TO AGENTS:
 
OVERPAYMENTS AND REFUNDS POLICY CHANGE
AS OF JULY 1, 2013.
 
Currently, the Indiana FAIR Plan sends a check for premium overpayments or refunds directly to the insured. Effective July 1, 2013, the Indiana FAIR Plan will issue checks for premium overpayments and refunds on polices where a premium finance company requests that a policy be cancelled to be issued with both the insured and the premium finance company as payees.
 
This change only affects policies in which a premium finance company has paid all or part of the premium. Refund checks will continue to be mailed directly back to the insured.  
 
The new procedure will be updated within the Agent Handbook and on the Indiana FAIR Plan website.  
 

 

A copy of the refund letter to the insured will be mailed to the agent, the mortgage company, and premium finance company if applicable.
 
 

 

*   *    *    *   BULLETIN  04/2013   *    *    *    *

     IMPORTANT FAIRPLAN NOTICE TO PRODUCERS:

NEW CLAIREPORTING CHANGES EFFECTIVE IMMEDIATELY
 
 
·   We are pleased to introduce a neand preferred method for reporting claims in the FAIPlan.Currentlymost claims submitted to the FAIRPlan are phoned in bthe agent and sometimes directly by the insured. Moving tweb-based reporting of claimwilallow us tassign and record claimmore efficientlyand timely.
 
 
·   Effective immediately neclaims are to be reported through our FAIPlan website, www.indianafairplan.com.  This change will allow us to be more responsive and gain efficiencies in the processing of neclaims.
 
          
      ·   Claimmay still be phoned in.  However, our preferred method                      
           is through the FAIPlawebsite. For Agents ONLY to report claims:
 
 
oLoginon the AGENTS section of our website.
 
oOn the left-hand side of the web page yowilsee:       
 


 
 
·   NOTE: Policyholders wilstilreport claims, as usualviphone, emailor fax.
 
oClick on the ClaimReporting link.Thiwill bring up a form requiring some basic claim information to be completed on-linsuch 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 asuch.
 
oOnce the form is complete, click“submit”and the claim will            be sent to the FAIR Plan ClaimDepartment.
 
oThe Agent will receive a claim acknowledgment notice vi
   e-mail once the claim is submitted to the FAIPlan.
 
oThe FAIPlandisclaimerwill be displayed uposubmission 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 trequest additional information prior to reaching a decision on the claim. The Indiana FAIPlan does nostafafter hours, weekends, or during holidays. A clairepresentative will be communicating with the policyholder regarding the claim no earlier than the next business day shoulthe claim be submitted outside normal business hours. Iyou have any questions concerning the coverage afforded bthe policy, please contacthe Indiana FAIR Plan Association. (317)264-2310 or (800)888-8627
 
 
                    If you havany questions, please calRicat 317-692-0557
 
            or Pat a317-692-0570.
 
 

 
         *    *   *    *  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”
 
These forms can be printed or viewed from our website within the Agents section: www.indianafairplan.com
 
 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.
 
Copy of the new form can be viewed and printed from our website: www.indianafairplan.com
 
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    *    *    *    *

 EFFECTIVE APRIL 1, 2011   

                                

         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.