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Daily Insurance Industry News
Wednesday 22nd of May 2019
July 10, 2010

Aviva focuses on commercial flood risk

by Gill Montia

Story link: Aviva focuses on commercial flood risk

Aviva focuses on commercial flood risk

Aviva is including flood advisory leaflets in its commercial renewal packs, as part of its campaign to protect commercial policyholders from the impact of flooding.

The advice ranges from subscribing to flood alert warnings and investing in local flood protection devices, to moving expensive equipment to less vulnerable parts of the premises.

Businesses are also urged to incorporate specific flood contingency elements in business continuity plans, to minimise disruption and improve speed of recovery.

The insurer’s property technical manager, Ian Shelley, comments: “While it may not be possible to eliminate the risk of flooding altogether, many practical steps can be taken to reduce the risk of flood damage, particularly if a business is in a high risk area.”

According to the Association of British Insurers, at least 2.5 million properties in England and Wales are at risk of flooding from rivers or the sea – and more than one million of these are also at risk of surface water flooding.

A further three million properties are susceptible to surface water flooding and Aviva makes the point that it uses a sophisticated flood-prediction model to assess a property’s level of risk rather than premiums being rated against a post code.

The insurer’s new leaflet can be downloaded by brokers from the Aviva website.

 

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