The Wisconsin Insurance Plan - Applying to the WIP

The following topics pertain to applying to the Wisconsin Insurance Plan. You can scroll down the page to read each one or you can click and go directly to the topic.

Use the Correct Application.

The Proper Submission.

Premium Payments.

Documentation of Rejection.

Requesting Coverage to Begin / Quotes / Pre-Qualify.

New Policy Issuance and First Year Installment Plan

The Underwriting Process.

Condition Charges.

Customers Right of Hearing to Appeal the Plan's Decisions.

USE THE CORRECT APPLICATION.

Wisconsin Insurance Plan applications must be used. Applications can be printed from this website. Applications change periodically, so please print a current application for each submission. Do not photocopy a previously printed application.

Be sure the information on the application is current and correct. We will not accept an application that has been completed more than 60 days prior to the requested effective date of coverage.

We have a different application for each of our four programs. Be sure to check the eligibility requirements for each program and use the correct application. If the wrong application is submitted, it will be rejected and coverage declined.

To print or complete an application, click on Applications. Or, you may contact us and we will mail or e-mail you an application.

THE PROPER SUBMISSION INCLUDES:

A current, properly completed, and readable Wisconsin Insurance Plan application signed by the producer. Applications not clearly readable are not acceptable. A separate application must be completed for each Dwelling or Commercial Building.

Documentation showing the property has been rejected for coverage by a regular insurance company (not the Plan) within the past 6 months. See section below.

The appropriate minimum deposit premium (indicated on the second page of the application) if coverage is requested to begin.  A deposit is not needed for a quote or to pre-qualify a property.

The remittance must be payable to WISCONSIN INSURANCE PLAN. See below for types of premium payments.

Issue one check or money order for each application. Reason: If more than one application is submitted and one of them must be rejected or declined, we must reject all the applications to return the one payment check.

The deposit premium listed is only a minimum. Any amount over the minimum may be submitted.

We may reject an application and require the full annual premium be paid if your customer has had past payment problems (cancellation notices for non-payment or NSF checks).

Don't delay coverage due to your error! Take your time and make a proper submission. We will usually decline to begin coverage if the submission is not complete. The deposit will be returned along with a letter requesting the missing information. We do not retain the deposit. We communicate by mail - not by telephone, e-mail, or fax. The missing information must be provided to the Plan and the deposit must be returned before the Plan can consider starting coverage. The coverage effective date can never be backdated.

PREMIUM PAYMENTS

Accepted:

	Customer's personal checks, producer checks, or bank checks payable to the Wisconsin Insurance Plan.
	Money orders payable to the Wisconsin Insurance Plan.
	Cash (at the Plan's office, during the Plan's business hours)

Not Accepted:

	Payments over the telephone such as transfers from checking or savings accounts.
	Checks or Money Orders not properly written or not written in the English language.
	Checks or Money Orders drawn on an institution located outside of the USA or not issued in US currency.
	Credit cards.
	Debit cards.
	Traveler's checks.
	IOU's or promises to pay.
	Customer's personal checks where the customer has issued NSF checks previously to the Plan.
	Return premium checks or claim payment checks issued by the Plan. Do not return these checks to us.
	Checks not written payable to the Wisconsin Insurance Plan. Sole Exception: a check payable to an agency by the Plan's customer properly endorsed by the agency to the Wisconsin Insurance Plan.

DOCUMENTATION OF REJECTION MUST BE EITHER (State of Wisconsin rule):

	A letter, memo, or e-mail from an insurance company underwriter (not a producer) rejecting the property. This must be dated within 6 months of application to us.
	A cancellation or non-renewal notice for the property dated within 6 months of application to us.
	A copy of a current page from an insurer's agent manual indicating reasons the property is ineligible or unacceptable for coverage. [A non-binding reason is improper documentation]. The reason must be indicated on the application or be circled on the manual page. For example, the manual page may list minimum limit, loss history, or physical condition requirements that make the property unacceptable for coverage from that insurer.
	Not acceptable: Any cancellation, non-renewal, declination, etc. issued by the Plan or any type of rejection over 6 months old.

REQUESTING COVERAGE TO BEGIN / QUOTES

The producer may request coverage to begin. Producers have no authority to bind or start coverage. YOU CANNOT ISSUE A BINDER OR ANY COVERAGE DOCUMENT. To request coverage, make a proper submission (see section above).

The Wisconsin Insurance Plan will consider beginning coverage effective at 12:01am the day after it receives a proper submission. Or, a later effective date may be requested - not an earlier date. Requests for earlier dates will be disregarded. Coverage is never backdated.

The Wisconsin Insurance Plan will determine the provisions of the coverage provided including effective date and time, coverage forms and endorsements, restrictions, limits, deductible, and payment plan. There is no guarantee that a policy will be issued as requested on the application.

The Wisconsin Insurance Plan may decline the request to start coverage (see The Underwriting Process below).

We suggest you apply at least 45 days before coverage is needed due to the possibility that the request to start coverage may be declined. Do not apply earlier than 60 days before coverage is needed.

Coverage will never start earlier than the day after the Plan deems the property acceptable for coverage and the proper deposit is received in the Plan's office. Coverage is never backdated. Coverage is never started without money.

Please apply at least 3 days before a coverage document (Declarations Page) is needed for a loan closing or property purchase.

Quotes: You may request a quote by making a proper submission without a deposit premium. A deposit is not needed to secure a quote. There are NO guarantees the quote will be issued and payment received prior to the date coverage is needed to begin. We always recommend submitting a deposit with the application. All quotes are subject to underwriting. We may decline the request to quote. Premiums for the Homeowner program and for non-owner occupied dwellings in the Dwelling Property program can be found on this website. You should be able to provide a quote yourself.

Deposits. The deposit on a quote may be different than the deposits listed on the application. When applying, use the deposit amounts listed on the application as a minimum. When responding to a quote, use the deposit amount listed on the quote as a minimum.

NEW POLICY ISSUANCE AND FIRST YEAR PREMIUM INSTALLMENT PLAN

If the Plan starts coverage, a policy will usually be mailed within three business days after receipt of the application. Commercial Property polices will take longer than three days. A complete policy will be mailed to the customer. A declarations page will be mailed to the producer and all additional interests. If requested, we will endeavor to fax a copy of the declarations page to you, the customer, or the lender.

The outstanding balance of the annual premium is indicated on the reverse side of the declarations page if the customer or mortgagee wishes to pay the balance of the annual premium immediately.

All policies are put on our five-pay payment plan. The five pays are the deposit plus four equal payments billed about 55 days apart (no service fee). The installment payment due and the outstanding balance of the annual premium are indicated on the installment premium notices and either may be paid.

Premium notices are mailed to the customer, the producer, and all additional interests such as mortgagees. We do not bill only the mortgagee or only the customer.

THE UNDERWRITING PROCESS.

The Wisconsin Insurance Plan has underwriting guidelines which are outlined in the Wisconsin Administrative Code Ins 4.10 (link requires Adobe Acrobat Reader). We are not required to insure all properties. We cannot provide an accept/reject decision over the telephone. State of Wisconsin rules require us to provide written notification to applicants that are declined for coverage. Therefore, we must receive a proper submission to make an underwriting decision.

Initial underwriting - Upon receipt of the submission:

We may issue the policy as requested.

We may issue the policy differently than requested. Producer and customer will be notified.

We may decline to start coverage: Producer and customer will be notified of the reason and the deposit will be returned.

if the submission or application is incomplete. See The Proper Submission above.

if the application is not readable or is out-dated. Use current applications.

to request additional information.

until we survey the property (see below).

if we feel the property is unacceptable or not eligible for coverage.

for other reasons.

We may issue a quote, if no deposit is sent with the submission.

We may decline to quote for similar reasons as above. Producer and customer will be notified.

Surveys: We will order a survey of the property or request a picture if the property is an isolated seasonal home. An outside survey is usually all that is needed. In southeastern Wisconsin, we have an inspector on staff. These inspections are usually completed in 2 to 3 weeks. In other parts of the state, we use a vendor for inspections. These inspections may take 3 to 4 weeks or more. Apply early!

We may require an inside survey. All vacant or unoccupied properties undergoing rehab require an inside inspection. If so, we will make an appointment with the customer. If the customer does not keep the appointment for the survey or does not work with us to set up an appointment, we will cancel the policy and require a new application. We will not consider coverage upon receipt of this second application until the inspection is completed.

Please advise your customer a survey will be done on the property and to cooperate with the Plan.

Final Underwriting - Upon receipt of survey and any information requested:

If the property is acceptable and a policy has been issued, we will do nothing.

If the property is not acceptable and a policy has been issued, we will cancel the policy.

The cancellation notice will list the reasons the property is unacceptable. Usually, we will provide about 6 weeks coverage to allow the customer to make the needed repairs. We will retain premium to the cancellation date and return the unused premium to the customer. The customer should deposit this check.

To maintain uninterrupted coverage, the customer must make the needed repairs and notify us in writing before the cancellation date. In most cases, the policy will be reinstated. In some cases, we may need to reinspect before reinstatement. The customer should not send money with this notice.

We may offer an alternative insurance program (Dwelling Property instead of Homeowner) on the notice. This requires a totally new submission for the alternative program.

If the policy subsequently is reinstated, the billing process will start again in about one week after reinstatement. The customer should not resubmit our return premium check. This check should be deposited and a new remittance issued.

If the repairs are completed after the cancellation date, the customer must reapply. The policy cannot be reinstated. A new submission is required and the new application must indicate the needed repairs have been made.

We may endorse the policy. For example, we may exclude coverage on an Other Structure and its contents, increase the deductible, or change the limit of insurance. Producer and customer will be notified.

If the property is acceptable and a policy had not been issued, we will send a premium quote.

If the property is not acceptable and a policy had not been issued, we will send a declination letter.

CONDITION CHARGES

Condition charges are additional premiums added to the basic policy premium due to conditions needing repair that are present at the property. For example, the property may need paint or have a few shingles missing from the roof.

During the initial policy period, we send a notice and the property survey to the customer advising of the conditions needing repair. Many customers do not have condition charges and will not receive this notice. The customer is advised the policy premium will increase on the next (renewal) policy period if the conditions are not repaired. Customers must complete the repairs and notify us in writing 90 days prior to their renewal date. The dollar amount of the condition charge is specifically listed on the renewal Declarations page.

If the customer repairs the conditions after the policy renews, the customer will receive either a return premium or a reduction in future installment payments due. The customer must notify us in writing after the repairs have been made.

CUSTOMER'S RIGHT OF HEARING TO APPEAL THE PLAN'S DECISIONS.

If we decline to insure a property, reduce coverage on a policy, cancel or non-renew a policy, the customer has the right to file a petition for a hearing before the Office of the Commissioner of Insurance (OCI). The request must be made within 30 days of the date of our notice. When writing to the OCI, the customer should indicate their names, mailing address, location of the property involved, date of their petition, our policy number, and their reasons for the request.

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Most recent update: May, 2010

For more information, contact thewip@execpc.com