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New Commercial Insurance Scheme includes Flood Damage

7th December 2016
New Commercial Insurance Scheme through H&H Insurance Brokers includes Flood Damage

We are pleased to announce that as members of the British Insurance Brokers Association (BIBA) we will have access to this new product which is aimed at commercial and property owning clients and could cater for business in flood hit areas.

The new product is being launched today, with quotations available from next week.  See below for outline details of the insurance but if you would like further information in the meantime, contact our Carlisle office 01228 406290 and speak to our broker team.

For some time BIBA has been working on a new scheme for members’ commercial and property owners clients that could also cater for those risks in flood hit areas and this new scheme from R&Q Commercial Risk Services Limited (R&Q) launching on 7 December* meets this need.

New Commercial Insurance Scheme includes Flood Damage
The scheme will provide BIBA members with comprehensive cover at highly competitive terms from secure A rated Lloyd’s capacity for many of their commercial or property owning clients.  And, for clients that have previously suffered from flood damage or that are situated in an area with a high potential for flooding, quotations will also be available in most cases.

Key Benefits Include:

  • Simple easy to access quotation process
  • Clear and concise policy documentation
  • Risk assessment using state of the art mapping technology from Landmark
  • Recognition of flood resilience and resistance measures in pricing and terms
  • Availability of an optional additional policy covering high flood excesses
  • The potential to consider resilient repairs as part of claims solution
  • 24 hour 365 day property claims notification line to Broadspire, part of Crawford & Co.

Key Aspects of Cover
There are three specific products available:

  • Commercial Combined for manufacturing and distribution trades
  • Package for  retail, office and surgeries
  • Property Owners for  individual   and portfolio property investors

Each has wordings that include loss damage and liabilities that you would expect from a comprehensive commercial policy. Where the property or the liability risk is outside R&Q’s underwriting footprint, flood cover may be provided in isolation on selected cases.

Excess Buy Back
The proposition includes an ‘Excess-Buy-Back’ facility. Where, because of the nature of the risk a higher flood excess applies, as our client you can (for an additional premium) cover their excess too.    More more information, simply ask us at the time of quotation.

7 December 2016