Posted on May 20, 2016
We have been closely watching developments around the future availability of flood cover in the UK. Our recent post confirmed that there is currently no provision for small businesses in areas prone to flooding who may struggle to get insurance cover or who may have onerous terms applied such as a very high excess for flood claims.
Fresh from the British Insurance Brokers Association (BIBA) conference in Manchester last week comes news that work is progressing on finding a solution to protect customers who may be affected by this issue. Steve White, BIBA CEO has announced that a scheme to provide cover should be available by the autumn.
We will continue to monitor the situation and will provide updates as the situation progresses.