; and (2) the term Pilot Program means the Write Your Own Risk Sharing Pilot Program established under subsection (b). (b) Establishment The Administrator shall establish and conduct a pilot program under the National Flood Insurance Program, to be known as the Write Your Own Risk Sharing Pilot Program , to make available a flood insurance policy applying only to loss or damage in excess of not less than $50,000 for sale by Write Your Own companies that agree to participate in the Pilot Program. (c) Eligibility To participate in Pilot Program The Administrator may establish terms, conditions, and eligibility criteria for Write Your Own companies participating in the Pilot Program. (d) Terms and conditions of excess flood policy (1) Chargeable rates The chargeable rate for an excess flood insurance policy sold in an area (or subdivision thereof) shall be not less than the applicable estimated risk premium rate for the area (or subdivision thereof) under section 1307(a)(1) of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4014(a)(1) ). (2) Application of surcharges and fees Any surcharge or fee, with respect to an excess flood insurance policy, charged to a policyholder participating in the Pilot Program for a period shall be reduced by the amount of any surcharge for a private flood insurance policy under section 1308A(a)(2) of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4015a(a)(2) ) (as added by section 404) or fee for a private flood insurance policy under section 1307(a)(1)(B)(iii) of that Act ( 42 U.S.C. 4014(a)(1)(B)(iii) ) (as amended by section 404), respectively, paid by the policyholder for coverage during the same period. (3) Terms and conditions of insurance (A) In general An excess flood insurance policy shall have the same coverages, exclusions, and limitations as the Standard Flood Insurance Policy insofar as the Policy relates to the requirements of this section. (B) Coverage amounts Coverage amounts for an excess flood insurance policy shall not exceed the coverage amounts