Insurance Placement Facility of Delaware
The Facility, more commonly known as the “Fair Plan,” was created by an act of the
legislature of the State of Delaware passed in 1968. “The Delaware FAIR Plan Act” mandates
that basic property insurance against fire and other perils be made available for all residential and
business properties located in the State of Delaware.
The Facility operates as an unincorporated non-profit association. IPFD shares office
space and employees with the Insurance Placement Facility of Pennsylvania and the West
Virginia Essential Property Insurance Association.
CONSTITUTION AND BYLAWS
There were no changes to the Facility’s Constitution or the bylaws during the
AIMS AND PURPOSES
The Aims and Purposes of the Facility shall be to provide basic property insurance so as
to effectuate the purposes of the Delaware FAIR Plan Act, as amended.
The Facility shall attempt:
To encourage stability in the property insurance market for property located in the State of Delaware.
To encourage, with the least possible administrative expense and detail, access to and availability of basic property insurance as defined by the FAIR Plan Act.
To encourage the improvement of the condition of properties located in the State of Delaware.
To provide for the formation and administration by the Insurance Placement Facility of Delaware of a plan assuring fair access to insurance requirements in order that no property shall be denied basic property insurance through the normal insurance market provided by the private property insurers except after a physical inspection of such property and a fair evaluation of its individual underwriting characteristics.