Flood Solutions for difficult to arrange Flood Insurance

Flood Solutions for difficult to arrange Flood Insurance

In the latest of our Floodlink Infomails, we discuss the British Insurance Brokers Association’s, (BIBA) commercial insurance scheme. Towergate is a member of BIBA and therefore can access the industry approved BIBA commercial scheme on our clients behalf.

The purpose of the scheme is to provide comprehensive cover at highly competitive terms from secure ‘A’-rated Lloyd’s capacity. The proposition also includes an ‘Excess-Buy-Back’ facility, for an additional premium, allowing the policy excess to be covered, where a higher flood excess applies due to the nature of the risk. The facility caters for business and property owners (it is not available for private households) who have difficulty in purchasing cover for damage caused by flood. This could be clients who have either suffered previous flood damage, are located in areas of high potential flood risk or who have had flood terms imposed.

The scheme has three specific contracts:

  • Commercial Combined for manufacturing and
  • distribution trades
  • Package policies for retail, offices & surgery
  • Property Owners cover for real estate 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 of
underwriting conditions, flood cover may be provided in isolation on selected 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


Mark Brannon Cert CII, commercial, sales, broking and client directorAbout the author

Mark Brannon Cert CII is a respected industry leader with over 17 years’ industry experience in a variety of roles within the business insurance sector. He works across a wide spectrum of insurance product and policy development, delivery and optimisation for clients, including claims, insurer relationships, marketing and communications, and risk management.


Read more Flood insurance articles 


For more information or for a full review of your insurance needs, please see our insurance specialisms, contact your usual Towergate Insurance Brokers adviser or email TIB@towergate.co.uk.

The information contained in this bulletin is based on sources that we believe are reliable and should be understood as general risk management and insurance information only. It is not intended to be taken as advice with respect to any specific or individual situation and cannot be relied upon as such. If you wish to discuss your specific requirements, please do not hesitate to contact your usual Towergate Insurance Brokers adviser.