New BIBA flood scheme to help businesses

The new flood scheme for commercial premises, announced by the British Insurance Brokers’ Association this week, will be highly beneficial to clients, Centor CEO Neil Walton believes.

BIBA announced on Monday the launch of a new commercial insurance members-only scheme for businesses that will include cover for many commercial premises and let properties in areas at risk from flooding. Centor is a BIBA member, so clients will have access to this scheme if they need it.

The scheme will help to provide flood cover for many businesses not eligible for Flood Re, the scheme launched in April of this year which made it easier for households at high risk of flooding to find insurance.

Mr Walton says while Flood Re was a step in the right direction, there was still a gap in the market for businesses in areas at risk of flooding.

‘BIBA’s new scheme will make it much easier for SMEs to obtain cover for flooding, which most were not able to do before. We’re pleased to be able to offer this to our clients alongside their other insurance needs.’

BIBA Chief Executive Steve White says: “We are delighted that this scheme will now be able to provide protection for many of the businesses that have not been able to buy cover against flood damage.”

Call Centor on 0207 256 7300 to find out if your business is eligible for the scheme.

Read the full BIBA press release here.

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