Flooding and the impact on your business

Many of Britain's business owners have witnessed the devastating effects of flooding. The need for adequate insurance cover and business continuity planning has never been more apparent.

Insurance can be arranged to cover both the physical damage to your property and your business's loss of income as a result of certain specified incidents. Check your business insurance policy to ensure that you are adequately covered for flood damage.

Business continuity also plays an important role in ensuring the survival of your company. If you believe that your business may be vulnerable to flooding, you might want to review your business plan. Issues you may wish to consider as part of this review include:

  • Is your stock and other equipment stored above flood level?
  • How well equipped is your business to stay open and resume trading quickly in the event of your premises being flooded?
  • How would you trade if your premises were not flooded, but access to them was restricted due to flood waters in the vicinity?
  • What alternative arrangements would you make - with customers and suppliers, for example?
  • Keep a copy of your business continuity plan off site together with useful telephone numbers and details of your business insurance policies.