Commercial property with flood cover
The scheme will provide BIBA members with comprehensive cover at highly competitive terms from secure A rated Lloyd’s capacity for many of their commercial or property owning clients. And, for clients that have previously suffered from flood damage or that are situated in an area with a high potential for flood damage, quotations will also be available in most 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; and
• The potential to consider resilient repairs as part of claims solution;
• 24 hour 365 day property claims notification line to Broadspire, part of Crawford & Co.
Key aspects of cover
There are three specific products available:
• Commercial Combined for manufacturing and distribution trades;
• Package for retail, office and surgeries; and
• Property Owners for individual and portfolio property 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 R&Q’s underwriting footprint, flood cover may be provided in isolation on selected cases.
Excess Buy Back
The proposition includes an ‘Excess-Buy-Back’ facility. Where, because of the nature of the risk a higher flood excess applies, your clients can for an additional premium cover their excess too. Simply ask your underwriter at the time of quotation.
Using the Scheme
Part of the R&Q group of companies www.rqih.com that employs over 400 people worldwide, R&Q is an established MGA that underwrites commercial (non-motor) classes from three branch offices, in London, Birmingham and Manchester.
Summaries of cover