The purpose of the scheme is to provide the BIBA membership and their clients with a superior policy that caters for business and real estate investors who have difficulty in purchasing cover for damage caused by flood. This could be clients who have either suffered previous flood damage, are located in areas of high potential flood risk or punitive terms have been imposed on the client.

The scheme is also available for brokers to place risks that have no history of flood or a low prospect of flooding and simply wish their clients to benefit from a competitive and very comprehensive policy coverage.

The specialist product offers a variety of options from flood cover in isolation or combined packaged policies.

Commercial Combined, Package Combined and Property Owners

Superior policy coverage available, including:

• Breakdown of equipment including computers
• Directors’ and officers’ liability
• Legal expenses that includes contract disputes
• Personal accident cover for directors
• A full range of business interruption extensions are included as standard
• Goods in transit, money, loss of licence, deterioration of stock are automatically covered

Target Risks

We strive to offer a solution for properties of all sizes, aiming to offer some level of coverage, be it 100% of the risk, first loss, or a policy layer.

Flood SME

Perfect for the smaller risks your clients might have, this scheme provides a solution for businesses with assets of less than £1 million.

Target risks

• Small businesses with less than £1m worth of assets
• Such as restaurants, shops, hairdressers and other SMEs

Flood only option

• Defined amount of cover for immediate and necessary expenses incurred following a flood.
• Flood only cover for either a £25k (£2.5k Excess) or £50k (£5k Excess) limit in the aggregate in the period of insurance

This cover can be used for:

• Replacement of property
• Clean up costs
• Costs incurred with moving to or from additional premises
• Additional costs in respect of lighting, heating and water
• Securing of the premise and defending against additional flood damage
• Additional costs in respect of additional staff and incurred overtime to minimise interruption to the business
• The product is supported by London Market and Lloyd’s A rated capacity
• Claims can be used to build back better