CBRA Flood

In 1982, congress enacted the Coastal Barrier Resources Act (CBRA), drawing a line in the sand to identify areas where NFIP coverage would not be offered in future years.  For years this line has been the difference between easy to insure properties and very difficult. In 2010, when Sterling began working on a solution, flood costs in the CBRA area were over $20,000 premium for bank required $250,000 coverage limit with a $50,000 deductible. The Real Estate Market for properties in CBRA zones dwindled to nearly zero. Businesses that relied on homes being bought and sold in these coastal areas suffered greatly. An opportunity was born.

With this opportunity in mind Sterling Surplus Underwriters developed relationships in Lloyd’s to reconsider CBRA zone properties as “bad risk” but rather better risk constructed under newer building codes with positive elevations etc. Underwriters were willing to listen and offer Sterling the programs necessary to generate positive results in CBRA zones.

Today Sterling enjoys a reputation as the market leader in CBRA zone coverage. Providing coverage for both residential and commercial properties we can satisfy risks with limits up to $25,000,000 in value. For years banks have recognized Sterling’s flood policies for complying with their requirements for closing.

Coverage Highlights:

  • Bank Compliant $250,000 building limit with $5,000; $10,000 or higher deductible option.
  • $500,000 primary commercial flood limit available
  • Available in AL, DE, FL, GA, NC, NJ, RI, SC, TX
  • Building and Contents coverage
  • Excess Flood Limit available up to $25,000,000

If you are looking for the best solution for a risk in CBRA zones look no further than Sterling Surplus Underwriters.

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