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Contact Us: info@illinoisfairplan.com 312.861.0385 |
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Contact Us: info@illinoisfairplan.com 312.861.0385 |
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NEWS |
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Producer Summary
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News Quick Jump: click on the topic to jump to the article >>MARCH 2012 - Homeowners Rate Change.
>>FEBRUARY 2012 - Electronic Submission and Payment of Homeowners and Dwelling Property Applications Updated.
>>JANUARY 2012 - Attach Mine Subsidence Waiver (FP344) to Electronic Submissions.
>>JULY 2011 - Make Checks Payable to Illinois FAIR Plan.
>>JUNE 2011 - Illinois Civil Union Act.
>>MARCH 2011 - Electronic Submission and Payment Available for Homeowners and Owner Occupied Dwelling Property Applications.
>>MARCH 2011 - Dwelling Property Rate Change.
>>DECEMBER 2010 - Online Payment Charge Eliminated.
>>MAY 2010 - Homeowners Rate Change.
>>JUNE 2009 - Inflation Guard on HO8 Renewals and All Dwelling Property.
>>MARCH 2009 - Dwelling Property Rate Change.
>>DECEMBER 2008 - Producers and Insureds Encouraged to Communicate by Email.
>>JUNE 2008 - Payment Inquiry Now Includes Current Mortgagee
>>MAY 2008 - Earthquake Coverage Moratorium Lifted
>>APRIL 2008 - Earthquake Coverage Moratorium
>>NOVEMBER 2007 - Online Payments
>> MAY 2006 - Payment Inquiry Enhancement
>> FEBRUARY 2006 - Payment Inquiry for Producers
The Illinois Department of Insurance has granted the Illinois FAIR Plan a rate change for Homeowners policies. The overall increase is 7.6% and will be effective March 1, 2012. Electronic Submissions for Homeowners and Dwelling Property Applications Updated The electronic application now offers various options for completion.
Click on Applications for more information Attach Signed Mine Subsidence Waiver (FP344) to Electronic Submissions When Waiving Coverage in Mandatory Counties When an electronic application is submitted to the Illinois FAIR Plan and the property is located in a mandatory Mine Subsidence County and Mine Subsidence Coverage is being waived, the Mine Subsidence Waiver (FP344) found in the Forms and Documents section must be printed, signed by the applicant and submitted to the Illinois FAIR Plan as an attachment to the electronic application. Failure to do so will result in coverage being added to the policy. Make Checks Payable to Illinois FAIR Plan The Illinois FAIR Plan will no longer accept checks that are not made payable to the Illinois FAIR Plan. Checks submitted to the Illinois FAIR Plan made payable to an agent, agency or any other party besides the Illinois FAIR Plan will be returned uncashed and may result in policy cancellation or nonrenewal for existing policies and will prevent the Illinois FAIR Plan from providing coverage for new business. Illinois Religious Freedom and Civil Union Act (750 ILCS 75/1) The Act, which becomes effective on June 1, 2011, creates a legal relationship between two persons of the same or opposite sex who form a civil union. The Act provides that the parties to a civil union are entitled to the same legal obligations, responsibilities, protections and benefits that are afforded or recognized by the laws of Illinois to spouses. The law further provides that a party to a civil union shall be included in any definition or use of the terms “spouse,” “family,” “immediate family,” “dependent,” “next of kin,” and other terms descriptive of spousal relationships as those terms are used throughout Illinois law. This includes the terms “marriage” or “married.” or variations thereon. Illinois FAIR Plan policies comply with the Act. Electronic Submission and Payment Available for Homeowners and Owner Occupied Dwelling Property Applications Producers are now able to complete a FAIR Plan Homeowners or owner occupied Dwelling Property application online and submit it electronically with the necessary supporting documentation and the applicants’ down payment. The Illinois Department of Insurance has granted the Illinois FAIR Plan a rate change for Dwelling Property policies. The overall increase is 5.7% and will be effective March 1, 2011. Online Premium Payment Charge Eliminated The $2 Service Fee previously charged for an electronic payment has been waived by the Illinois FAIR Plan and there is no longer a cost for making electronic payments. Policyholders can easily make payments online by going to www.illinoisfairplan.com and clicking on the Payment tab. The Illinois Department of Insurance has granted the Illinois FAIR Plan a rate change for Homeowners policies. The overall increase is 7.0% and will be effective May 1, 2010. Inflation Guard on HO8 Renewals and All Dwelling Property In order to keep up with the increased cost of construction and minimize any penalties for an insured in the event of a loss, effective July, 2009 the Illinois FAIR Plan is adding Inflation Guard to HO8 renewals and all Dwelling Property policies. This is in addition to the Homeowner's Replacement Cost HO2/3 policies and new Homeowner's Repair Cost HO8 policy. As a result, all Homeowner's and Dwelling Property policies will now include Inflation Guard. This is an option enhancement to the HO8 and Dwelling Property policies and may be removed at the insured's written request. The Illinois Division of Insurance has granted the Illinois FAIR Plan a rate change for Dwelling Property policies. The overall increase is 5.4% and will be effective May 1, 2009. Producers and Insureds Encouraged to Communicate by Email To assure a quick response and written documentation, producers are encouraged to forward their inquiries or requests by email to info@illinoisfairplan.com. Endorsements can also be requested by clicking on "Request Policy Change" on the Home Page. A list of specific email addresses is available on the Contact Us page. Payment Inquiry Now Includes Building Limit and Current Mortgagee The Producer Payment and Claims Inquiry feature on the website has been enhanced to include policyholder building limits and current mortgagee. Earthquake Coverage Moratorium Lifted Effective May 19, 2008, the Illinois FAIR Plan no longer has a moratorium on new Earthquake Coverage. Earthquake coverage is available as an endorsement to the Homeowners and Dwelling Property policies. Earthquake Coverage Moratorium Effective immediately, as a result of the April 18, 2008 5.2 magnitude West Salem, IL earthquake, the Illinois FAIR Plan has declared a minimum of a 30 day moratorium on new Earthquake Coverage for the entire state of Illinois. Current FAIR Plan policyholders can now make renewal and installment payments online, online payments are currently not available for new applicants. To learn more, click on the "Payment" tab.
Payment Inquiry Now Includes Claim History We are pleased to announce that, as a result of producer feedback, the Payment Inquiry feature on our website has been enhanced to include three years of policyholder claim history. We hope you find this enhancement to be useful!
We are very pleased to announce that on-line payment inquiry is available for producers. This will allow you to view payment activity and history for your FAIR Plan clients without having to call our office! To access this feature, you need to utilize your FAIR Plan producer number and password, which is the last 4 digits of your social security or tax ID number. While FAIR Plan staff is able to provide your producer number, we cannot provide your social security number information. You do have the option to change your password using the change password feature. Please keep a record of your password as we will be unable to provide it for you. If you forget your password after changing it, the default is the last 4 digits of your social security number or tax ID number.
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