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Many businesses are and will be, affected by severe weather
and floods across the country. To protect businesses against flood
damage, Towergate has the following advice:
Avoid or minimise risk of damage
through flooding
Extensive information is located on the
Environment Agency website.
Here are some key points:
In some areas, the Environment Agency operates
a telephone early warning service. For more information, call the
Floodline on 0845 988 1188.
- Prepare a business continuity flood
plan. Include a list of essential contacts. Identify all
key properties, as well as utility shut-off points. Prepare to
protect against disruption, and to get the business going again.
Staff must know where the plan is kept.
 Further advice on Business
Continuity Planning.
- Communicate with staff.
Ensure all staff understand procedures to be followed, including
removal of essential backup data media.
- Check if sufficient protection is in
place.
- Check insurance policies.
Consider a business interruption policy to insure you against loss
of profit and higher overheads caused by loss of equipment or
facilities.
Deal with damage caused by
flooding
If you're about to be hit by flooding, there
are immediate steps to be taken.
- Turn off, isolate or move.
Turn off all electrical equipment. Isolate all utility supplies,
including water. Move equipment upstairs where practical. Keep a
battery-powered radio tuned to a local station.
- Inform insurers. Follow
instructions relating to emergency repair work, disposal of damaged
goods, handling of business loss/interruption, scheduling of
additional building and other restorative works etc.
- Contact your landlord / their
agent. Your lease or tenancy agreement will set out
clearly who is responsible for which repairs.
- Follow utilities/emergency services
advice. Do not use utilities until advised it is safe to
do so - including tap water, which may be contaminated with
sewage.
- Record the damage. Get
photographic/video evidence of the damage.
- Refer to your Flood Plan.
The Plan should detail arrangements to be followed for
reconstruction and repairs.
Ensure adequate insurance
It is critical to your business to protect it
by an appropriate type and level of policy.
- Standard contracts. It is
important that premises are insured for the full rebuilding cost,
otherwise you will only be able to claim the cost of what is
insured, regardless of the damage.
- Contents can be insured for
'replacement', or 'indemnity'. Indemnity cover deducts the
cost of wear and tear when settling a claim. Replacement as new is
more expensive, but may be a better option.
- Choose the right 'business
interruption' policy. This will cover against loss of
profit and higher overheads caused by flooding. Choosing the right
level and mix is essential – and is achieved through assessment
with your broker.
When hit by flooding, a lack
of preparation can result in massive cost, even termination.
If you would like more information on ways
that Towergate can help ensure your own business is protected
against flood or other natural disasters, then contact your local
office. |
