Help to Keep the Floodgates Closed
Commercial entities are facing a new wave of water-related exposures, as flooding is on the rise, whether it be from sudden, torrential downpours or unexpected major winter thaws. Flood risk is made worse by ageing infrastructure including old sewer mains and storm drains, which result in water backups into commercial properties. Business owners now have to look at acquiring overland flood insurance or additional flood insurance coverage on top of their commercial property and business interruption coverage. Even if not directly flooded, a commercial property can still face serious business interruption losses if the infrastructure surrounding the business has been impacted by a flood.
Risk management firms can work with businesses to assess weak points within commercial properties and assist in mitigation to prevent large flood losses which may include measures such as minor construction to low-lying or weak areas , additional drainage, dry inflatable berms or property alterations.