Biba develops flood product for SMEs
The body has worked with Mi Commercial Risks to extend its flood scheme.
The British Insurance Brokers Association has added to its commercial flood insurance scheme and now provides cover for businesses with less than £1m in assets.
The product, created alongside Mi Commercial Risks, provides flood only cover for either a £25k or £50k limit, in the aggregate in the period of insurance.
The product is designed to be bought alongside a standard commercial package policy to provide some flood cover if there is a gap.
Aimed at small businesses such as restaurants
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