WSS Extends its Calif. Residential Flood & Landslide Program

Western Security Surplus Insurance Brokers Inc. announced that its California Residential Flood & Landslide Program, operating since December 1998, will be replaced with the extension of the Natural Catastrophe Protection Program, effective Jan. 1, 2001. WSS has operated a similar program outside of California since 1985.

Tailored for needs of homeowners and commercial risks in both National Flood Insurance Program qualified communities as well as non-NFIP communities, NCP offers protection to thousands of homeowners and small businesses. In other words, there is now an alternative product that offers flood coverage and is enhanced by the addition of landslide and primary additional living expense or business interruption coverage. NFIP does not offer the additional coverage. All owner-occupied residential structures and small businesses are eligible for consideration. Vacancy will not deter risks from consideration under the program underwriting guidelines.

The NCP-California Risk Application is needed for a quote for flood and the Landslide Supplementary Application is needed to include landslide coverage. WSS can usually quote the same day through the use of a binding authority provided by Underwriters at Lloyd’s, rated “A” by A.M. Best. Deductibles range from $1,000 to 5 percent of the dwelling value. Limits under the program rating authority will be $1,000,000; higher limits to $6,000,000 can be secured as needed. The minimum earned policy premium is 25 percent of the annualized premium plus fees.

The program pays 10 percent commission to the retail producer. For applications and underwriting guidelines, contact George Orr, Carolyn Wong or Kevin O’Neil at WSS, (415) 446-1820.

Topics California Flood