Flood Insurance – Could your business be washed away by a flood or sewer back-up?
Flood Insurance – Could your business be washed away by a flood or sewer back-up?
Pennsylvania is considered to be one of the most flood-prone states in the nation, with approximately 83,000 miles of river and streams and nearly 2,400 local governments enrolled in the National Flood Insurance Program (NFIP).
Although flood and sewer back-up is excluded under most standard commercial property policies, sewer back up can be added as an endorsement. Coverage for flood-caused damage to a business is available through the National Flood Insurance Program and a few private insurers. When used in coordination with private insurance, NFIP coverage can mitigate or “buy down” large deductibles associated with commercial flood policies or provide additional coverage.
Please contact your KMRD Partners relationship manager to learn more about your firm’s risk profile from flooding and sewer back-ups, and to discuss if your present insurance coverage will protect your firm one minute from normal.
Any business interruption coverage your organization carries will mirror what is covered in your main business policy. If flood coverage is not included in your general policy, you won’t have interruption coverage for flooding, either.
KMRD reduces the overall cost of risk by producing a greater value for each commercial insurance dollar spent, while utilizing an enterprise risk management approach to engineer the optimal solution.
We are dedicated to the mitigation of risk, safety and loss control and claims advocacy, while helping firms recover from unplanned events that wait on the other side of one minute from normal. For a quick review of insurance terminology and coverages, visit our Insurance Reference Library.
To identify and correct coverage and service gaps in your insurance coverage contact us at contactus@kmrdpartners.com before one minute from normal strikes.
Need to deliver better risk management results for your company? Schedule a brief demo of our unique collaborative risk management system, KMRD XChange.
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