The BIBA Commercial Property scheme is designed to assist businesses that have either suffered from previous flood damage or are in a perceived difficult flood area.

Target risks

  • Manufacturing and distribution
  • Retail, office and professional trades
  • Real estate – private and residential

Key policy features
Superior policy coverage including:

  • Breakdown of equipment including computers
  • Directors’ and officers’ liability
  • Legal expenses that includes contract disputes
  • Personal accident cover for directors
  • A full range of business interruption extensions are included as standard
  • Goods in transit, money, loss of licence, deterioration of stock are automatically covered

Key benefits to members

  • Branch offices located in London, Birmingham, Manchester and Bournemouth
  • Exclusive quotations
  • Direct access to the decision-makers
  • Multiple cover options available


Flood SME is a new extension to the scheme for March 2022 offering a solution for businesses with less than £1m worth of assets.

Target risks

  • Small businesses with less than £1m worth of assets
  • Such as restaurants, shops, hairdressers and other SMEs

Key policy features

  • Flood only cover for either a £25k or £50k limit in the aggregate in the period of insurance
  • Defined amount of cover for immediate and necessary expenses incurred following a flood.
  • Cover can be used for:
    • Replacement of property
    • Clean up costs
    • Costs incurred with moving to or from additional premises.
    • Additional costs in respect of lighting, heating and water
    • Securing of the premise and defending against additional flood damage
    • Additional costs in respect of additional staff and incurred overtime to minimise interruption to the business
  • £25k (£2500 Excess)
  • £50k (£5000 Excess)
  • The product is supported by London Market and Lloyd’s A rated capacity
  • Claims can be used to build back better
  • Fast-track claims process

About us
The Lloyd & Whyte group had purchased the entire shareholding of R&Q Commercial Risk Services Limited from R&Q MGA Limited.

The business will now fall under the umbrella of Mi Specialty which is born out of the acquisition of R&Q CRS Ltd (now known as Mi Commercial Risk Ltd) and Stride Underwriting.  Bringing the two businesses under one banner of Mi Specialty creates one of the most comprehensive MGAs with a huge amount of expertise, knowledge, and A Rated Capacity.  This will not impact the cover and service provided by the BIBA Commercial Property scheme but you can find more information here or visit the MI Specialty website.

Summaries of cover 

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