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 / Receiving Applications.

The Proper Submission.

Documentation of Rejection.

Requesting Coverage to Begin / Quotes.

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 / RECEIVING APPLICATIONS.

Wisconsin Insurance Plan applications must be used. Use current applications which can be printed from this website. 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 an application, click on Applications. Or, you may contact us and we will mail you an application.

THE PROPER SUBMISSION.

The proper submission includes:

A current, properly completed, and readable Wisconsin Insurance Plan application signed by the producer. Faxed 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 below.

The appropriate minimum deposit premium (indicated on the second page of the application) if coverage is requested to begin.

The remittance must be payable to WISCONSIN INSURANCE PLAN. Click Types of Premium Payments for types of remittances acceptable or not acceptable.

The deposit 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 (repeated cancellation notices for non-payment).

You may request a quote by submitting an application without a deposit premium. A deposit is not needed to secure a quote.

We suggest you apply 45 to 60 days prior to the date coverage is requested to begin. We will not accept an application sent before 60 days prior to the date coverage is requested to begin.

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 explaining the reason for declining to start coverage. We communicate by mail - not by telephone.

DOCUMENTATION OF REJECTION MUST BE EITHER:

	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.

REQUESTING COVERAGE TO BEGIN / QUOTES.

We suggest you apply 45 to 60 days prior to the date coverage is requested to begin. We will not accept an application sent before 60 days prior to the date coverage is requested to begin.

The producer may request coverage to begin. Producers have no authority to bind or start coverage. To request coverage, make a proper submission (see 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.

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.

The Wisconsin Insurance Plan may decline the request for coverage. If the request is declined, we will mail a notice to the applicant and producer within 5 business days after receipt of the application.

Coverage will NEVER start earlier than the day AFTER the Plan both receives and accepts the appropriate premium in the Plan's office, subject to underwriting.

We do not issue binders. Please apply at least 5 days before a coverage document (Declarations Page) is needed for a loan closing or property purchase.

Quotes: You may request a quote by not submitting 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.

NEW POLICY ISSUANCE AND FIRST YEAR INSTALLMENT PLAN

If the Plan starts coverage, a policy will usually be mailed within five business days after receipt of the application. Commercial Property polices will take longer than five 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. However, 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.

Producers cannot decline or refuse to insure a risk on behalf of the Plan.

Upon receipt of the submission:

We may issue a policy as requested.

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

We may decline to start coverage: (Producer and customer will be notified).

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

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

to request additional information.

until we survey the property.

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.

We may require an inside survey. 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.

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

Upon receipt of property survey and any additional 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. To maintain uninterrupted coverage, the customer must make the needed repairs and notify us in writing before the cancellation date. Then, the policy will be reinstated.

Sometimes, we offer an alternative insurance program (Dwelling Property instead of Homeowner). This requires a totally new, complete submission for that program.

We will retain premium from the inception of the policy to the cancellation date. Any 'excess premium' will be returned to the customer shortly after the cancellation notice has been mailed. This check should be deposited by the customer and not used as a premium payment for the current policy or a different policy.

If the policy is reinstated, the billing process will start again in about one week after reinstatement.

If the repairs are completed after the cancellation date, the customer must reapply. A completely 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 or increase the deductible. 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 amount of the condition charge is specifically listed on the renewal premium notice.

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 immediately 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: March, 2008

For more information, contact thewip@execpc.com