The floods that swept the UK in December 2015 caused widespread devastation, a total of three unrelenting storms struck first there was Desmond, then Eva and Frank, each wreaking havoc in different parts of the country. It was reported that storm Desmond broke all previous UK records receiving 341.4mm (13.4in) of rain in the 24 hours between 4th and 5th December.
Since these storms the government and the insurance industry have come together to help those living in high risk flood areas find affordable home insurance and on the 4th April 2016 a scheme called “Flood Re” was launched, providing peace of mind and security of insurance to those who need it most.
The challenge still remains for some small businesses who do not have an equivalent safety net and can be found left uninsured for any claims arising from flood with insurers either excluding this peril or completely refusing to insure some businesses in its entirety.
At Gsi insurance we have a vast array of products and suppliers who can assist clients find commercial insurance that can protect them against the risk of flood.