27-06-2007
Business contents insurance a must
In the event of a flood, business contents insurance could be vital, it has been claimed.
According to Ambiental, a risk management consultancy firm, business contents insurance could prevent a small to medium-sized enterprise from being "wiped out" should a flood occur.
"It's very difficult to know what percentage of business owners have coverage for contents, but you would imagine that if you have stock or machinery, then it should be covered," said Justin Butler, managing director of Ambiental.
"It's a very wise investment to do so, especially in a flood risk area," he added.
Indeed, the firm advises businesses to consider the risk of flooding as part of a continuity plan for the business.
One of the elements of a business continuity plan is the planning lifecycle.