Providing Reliable All-Risk & In-House Property Binder Insurance Solutions for MGAs and Coverholders
Costero has completed the placement of a new All Risks facility, effective immediately – Security is 100% Lloyd’s of London. We have capacity in most coastal states, however, it is preferred that you offer a geographical spread of risks to us when sending in your submissions to avoid having risks to close in any one particular state.
In order to consider any risk, we will require the minimum documentation:
- Fully completed Acord application form
- Currently valued hard copy loss runs for the last 3-5 years
- Target premium / deductibles
Geographical Appetite
We can accept risks in Louisiana, Mississippi, Alabama, Georgia, Florida, Pennsylvania, Texas, New Jersey & New York
Minimum Submission Requirements
- Frame, Joisted Masonry, Masonry Non-Combustible and Fire Resistive constructions only
- Maximum roof age 25 years
- Tiers 1 & 2 only. Maximum distance from saltwater 50 miles
- No Frame construction within 10 miles of Saltwater
- No Non-Combustible constructions can be considered
Risk Limits
Valuation Requirements
- Frame: Not less than $125 per square foot
- Joisted Masonry: Not less than $150 per square foot
- MNC & Fire Resistive: Not less than $175 per square foot
Un-Sprinklered:
- Frame – $2,185,000
- Joisted Masonry – $3,125,000
- MNC – $3,750,000
- Fire Resistive – $3,750,000
Sprinklered:
- Frame – $2,500,000
- Joisted Masonry – $3,125,000
- MNC – $3,750,000
- Fire Resistive – $3,750,000
Our sweet spot, as in the past, is for risks which have values between $500,000 and $2,000,000. We can consider most occupancies, however the following will fall out of our appetite: Churches, Convenience Stores, Mobile Homes, Homeowners, Marijuana/Cannabis related risks, Goods stored in the open, Risks where there is no coverage for the building.
Our Experts
Speak to our Experts
Our expert knowledge of these product classes, combined with our passion and dedication to completely understand our clients’ business needs.