Flood Excess Insurance launches following UK floods

Flood Excess Insurance, an appointed representative of Advent Solutions Managements, has been launched to enable UK businesses to mitigate against the huge increase in excesses following widespread flooding in the UK earlier this year.

Flood Excess Insurance will provide support to small to medium-sized enterprises (SMEs) in flood zones, where in some cases excesses have increased tenfold.

While the Government-backed Flood Re scheme is working to ensure insurance remains affordable for residential homes in flood-prone areas, business property is excluded from the scheme.

To help highlight the issue facing SMEs, Flood Excess Insurance has compiled a league table of the most at-risk UK post codes in conjunction with JBA Consulting.

Lincoln (LN1) tops the list of postcode districts most at risk from flooding. South Lanarkshire (G73), Bristol (BS1), Nottinghamshire (DN22) and Central Manchester (M4) complete the top five, while Penrith in Cumbria (CA10), a location still recovering from Storm Desmond in December, remains at risk, falling just outside the top 10.

Chris Netherton, chief executive officer, Flood Excess Insurance, said: “Many landlords, business owners and managers are unaware of the potential implications arising from greatly increased excess limits, with many now set at tens of thousands of pounds.

“Weather events that are only expected once every hundred years have been occurring with greater frequency, meaning insurers are unable to continue providing the same levels of indemnity.”

He added: “With Flood Excess Insurance, UK SMEs can be certain that a high excess bill following a flood will not jeopardise their livelihoods.”