Foreign Fire Insurance Board

About:

The Foreign Fire Insurance Board (FFIB) shall consist of seven (7) trustees: the District Fire Chief, who shall hold office by virtue of rank; and, six (6) members, who shall be elected at large by the members.

The elected trustees of the FFIB shall each serve three (3) year terms, commencing on the first meeting in the month of District’s fiscal year. Thereafter, annually in the first month of the District’s fiscal year, the members shall elect two (2) trustees to fill the terms concluding that month. In the event of fewer than six (6) elected trustees serving on the FFIB, this staggering effect of office of elected trustees shall apply to minimize the impact of trustee turnover. FFIB Trustees shall serve until his or her successor has qualified to serve. The FFIB shall perform such duties and have such powers as may be delegated to it by statute.

Illinois Public Act 102-0740 requires all insurance companies not incorporated under the laws of the State of Illinois, and that provide fire insurance for property situated within an Illinois municipality or fire protection district that maintains a fire department, to remit a foreign fire insurance license fee to the foreign fire insurance board within a municipality, or to the secretary of a fire protection district. Previously, the corporate authorities of a municipality or fire protection district were required to adopt an ordinance to levy the fee.

This fee, previously referred to as a foreign fire insurance tax, equals 2% of the fire portion of the insurance policy premium received from fire insurance upon property situated within an Illinois municipality or fire protection district. The fee must be used for the maintenance, use and benefit of the fire department.

Follow this link to learn more about the purchases executed by the FFIB:

Click here to Download List of Purchases