WHETHER or not you follow the climate change conversation, it's hard to ignore that the first two decades of the 21st century have largely been characterised by increased incidents of flooding.
As well as becoming more frequent, the severity of the flooding seems to be increasing as well, with some rivers in England rising to record levels last week.
Last month Ireland has been battered by storms Ciara and Dennis, which has led to widespread disruption and flooding. Last March parts of the country found itself underwater after storms Gareth and Freya left a trail of destruction.
However, the storms aren’t confined to the winter months with homes and businesses being evacuated across the Peak District and Lincolnshire in England last August as flooding occurred.
There is conversation taking place which claims the increased occurrences of flooding are consistent with a warming world. Regardless of where you stand on climate change it is hard to dispute that insuring your business against flooding makes good sense.
We can all be guilty of taking the approach of “it’ll never happen to me”. But as flooding occurs more frequently, the odds of your business escaping damage-free begin to shorten.
Government can also make emergency payments to victims of flooding but there is no certainty that these payments will even come close to restoring your business to the condition it was prior to flooding.
Press reports last August revealed some Northern Ireland farm owners were still awaiting compensation from flooding which took place two years previously – granted this was at a time when Northern Ireland didn’t have a functioning Executive.
In my view, it is prudent for businesses owners to take stock of the level of cover they require. Speak to specialists who can tailor your policies to suit the needs of your business, safeguarding you against all eventualities.
If the current trend of frequent extreme weather incidents continue, savvy business owners will turn to insurance brokers for compatible policies.
Business owners should speak to experienced insurance brokers who take the time to understand the risks and challenges associated with each specific business.
They will help you assess any additional elements of cover you may need, so you have a tailored policy safeguarding against ‘rainy days’.
:: Donna Vaughan is commercial account manager at Autoline Insurance Group (www.autoline.co.uk)
