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Contact Us: info@illinoisfairplan.com 312.861.0385 |
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Producer Summary
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News Quick Jump: click on the topic to jump to the article >>JUNE 2008 - Response to the needs of Policyholders Affected by the Recent Floods
>>JUNE 2008 - Payment Inquiry Now Includes Current Mortgagee
>>JUNE 2008 - Producer Copy of Renewal Premium Notice Eliminated
>>MAY 2008 - Earthquake Coverage Moratorium Lifted
>>APRIL 2008 - Earthquake Coverage Moratorium
>>NOVEMBER 2007 - Online Payments
>>AUGUST 2007 - Homeowner Rate Change
>>FEBRUARY 2007 - Dwelling Property Rate Change
>>OCTOBER 2006 - Dwelling Property 2002 Program
>>JULY 2006 - Updated Earthquake Program
>>MAY 2006 - Insurance to Value on HO2/3 Policies
>> MAY 2006 - Payment Inquiry Enhancement
>> FEBRUARY 2006 - Payment Inquiry for Producers
>> JANUARY 2006 - Insurance to Value on Commercial Policies
The FAIR Plan is Responding to the Needs of Policyholders Affected by the Floods. Every accommodation possible is being made for all policyholders directly affected by the recent floods including, but not limited to the following:
- No application will be declined or policy non-renewed for flood related reasons. - All FAIR Plan generated policy cancellations or non-renewals for flood affected policyholders issued on or after June 10, 2008 will be extended, at a minimum, until August 18, 2008. This includes an extended payment grace period for Cancellations/Nonrenewals for non-payment of premium. - Additional leniency will be offered with respect to time sensitive matters for all flood affected claimants for items such as submission of a claim or proof of loss, claim documentation paperwork or time to complete repairs. - Time to Repair requirements as a result of an inspection of a flood affected property will be extended to meet the needs of the policyholder.
Any policyholder who was affected by the flood and has any concerns about their policy with the FAIR Plan is encouraged to contact their producer or our Customer Service Department at (312) 861-0385 extension 3 or online at: info@illinoisfairplan.com. In addition, the Illinois Division of Insurance is available for filing a complaint against any disaster related dispute through their toll-free complaint hotline at (866) 445-5364 or online at : http://www.idfpr.com/doi/Complaints/Complaints.asp
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. Producer Copy of Renewal Premium Notice Eliminated While producers will no longer receive a copy of the renewal premium notice for their policyholders, they will continue to receive a copy of the Past Due Notice if the renewal premium is not paid and a client's renewal status can be accessed at any time through the Payment and Claim Inquiry function of the website. 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 on-line, on-line payments are currently not available for new applicants. To learn more, click on the "Payment" tab.
The Illinois Division of Insurance has granted the Illinois FAIR Plan a Homeowner policy rate change effective September 1, 2007. The overall rate increase is 3%.
The Illinois Division of Insurance has granted the Illinois FAIR Plan a rate change for Dwelling Property policies. The overall increase is 7.7% and will be effective March 1, 2007.
Dwelling Property 2002 Program The Illinois FAIR Plan is pleased to announce that it is adapting the Dwelling Property 2002 Program effective October 1, 2006. Follow this link for a description of program changes..... DF 2002 Program
The Illinois FAIR Plan is adapting the most recent ISO Earthquake Program effective July1, 2006. This includes the revised rates located in the Rates section of the website and an increase in the minimum deductible from 2% to 5%. More details are available in the Notice to Policyholders accompanying all renewals.
Insurance to Value on HO2/3 Policies Effective with May 2006 renewals, the Illinois FAIR Plan is reviewing all Homeowner's Replacement Cost form HO2/3 renewals to confirm Insurance to Value. If the policyholder is not carrying Insurance to Value and has the potential of being penalized in the event of a loss, the Illinois FAIR Plan is offering the option of insuring to the proper values or selecting a Repair Cost HO8 policy without the Insurance to Value requirement.
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.
Insurance to Value on Commercial Effective January 2006, the Illinois FAIR Plan is reviewing all renewals to confirm they are insured to the 80% coinsurance requirement and not subject to a penalty in the event of a loss. If the policyholder is underinsured, the Illinois FAIR Plan is offering the option of meeting the coinsurance value requirements on renewal or renewing without coinsurance at a higher rate.
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