Control your exposure to floods and cyclones with our Top up or Excess buy-down cover

With extreme weather becoming more common in recent years, the thought of a high excess being applied to your cyclone and flood policies, can be very worrying. Steadfast IRS were the first wholesale insurance broker to introduce the innovative Cyclone Excess Buy-down cover to the Australian market, and we have since developed a Flood Excess Buy-down facility.

Going forward, Steadfast IRS’ specialist wholesale broking company – Enterprise Underwriting Solutions (EUS) – will now offer this product.

Suitable for a broad range of occupations including tourism construction, transportation mining, and energy risks.  Cover can be bought over multiple policies for the one insured

Excess Buy-down Features and benefits: 

  • Up to $750,000 flood/cyclone excess, higher amounts can be arranged
  • Can assist in obtaining coverage in flood/cyclone prone areas
  • Sum insured or percentage of loss
  • Follow form of overlying policy
  • Provides coverage for floods/cyclone when it is excluded or sub-limited under your current policy
  • Can provide aggregation limits to multiple excesses over different policies.

Top up Features and benefits:

  • Provides additional capacity to sub limits imposed for cyclone/flood perils up to $750,000 , higher amounts can be arranged
  • Follow form of underlying policy

The facilities are underwritten by Lloyds of London.

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