Over half of businesses have no flood action plan
A survey by Previsco has revealed that 54% of public sector and private companies do not have an action plan in place to deal with the increased risk of flooding.
The live flood forecasting and water management data company explained that flooding can not only result in large losses but for small businesses the cost of damage can be so high it causes it to close down.
Data from a Lloyd’s Lab report shows that 70% of commercial flood losses can be mitigated with advanced warnings that allow businesses to prepare act and prevent flooding loss.
Flood losses in the UK are now over £1bn per year, according to data from the Government’s Foresight Future Flooding
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