Bulletin #20: Referrals from the Illinois FAIR Plan
General Bulletin #20
REFERRALS FROM THE ILLINOIS FAIR PLAN
Illinois FAIR Plan is seeking to
create a database of surplus line producers to whom it may
refer business that it is unable to write. Please read the
information below and, if you wish to be included, email the
proper information as directed.
The Illinois FAIR Plan Association has been providing
property insurance for responsible property owners who do
not qualify for the standard market for reasons beyond their
control for almost 35 years. They offer a full range of
Homeowners products plus Dwelling Fire and Commercial Fire.
Their book is 95% Dwelling Fire and Homeowners. While they
have shrunk by over 85% since their biggest years in the
late seventies, lately submission activity has increased.
At the same time an increasing number of the properties
submitted have exceeded their capacity. The FAIR Plan
writes up to $500,000 Coverage A on habitational properties
and $1,000,000 for each applicant on any commercial property
with a total limit of $3,000,000 at said location.
The Plan would like to refer producers to members of the
Surplus Line Association when, due to values, the properties
submitted can better be handled in the surplus line market.
Examples of recent submissions include dwellings well over
$500,000 in value and shopping centers and apartments over
$1,00,000. Most of this business came to the FAIR Plan due
to loss frequency. They would not refer business declined
for underwriting reasons.
At this point, they are not sure how much business will be
referred, but they had roughly 3,000 total submissions last
year, which was a 15% increase from the prior year, and are
up about 20% this year. Their producers would be given the
names of 2 or 3 randomly selected surplus line producers
from which to choose.
Those members that are willing to accept referrals should
provide the following information by email to
Name of Organization:
Any Conditions (i.e., commercial only):
Should you have any questions, please
contact Doug Jensen at the FAIR Plan directly via email, or
call him at (312) 861-0385 x206.